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Tuesday, July 22 2014 7:17 AM EDT2014-07-22 11:17:13 GMT
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Gov. Bev Perdue announced Thursday that JELD-WEN, a manufacturer of windows and doors, will locate its new North American Headquarters operations in Charlotte.
The company plans to create at least 142 jobs over the next two years and invest $2 million. The project was made possible in part by a state Job Development Investment Grant.
"North Carolina continues to be a top choice for companies looking to expand or relocate operations," said Gov. Perdue. "North Carolina is a tremendous place to do business and we have a knowledgeable and skilled workforce. Our priorities of investing in education and economic development continue to pay off."
For more than 50 years, JELD-WEN has built its reputation as one of the world's most reliable manufacturers of windows and doors. Today the company offers a full breadth of windows and doors, earning numerous awards and endorsements for dependability, innovation and excellence. JELD-WEN is also a recognized leader in manufacturing energy-efficient products. The company's product offerings are sold globally through retail home centers, wholesale distributors and building products dealers.
"We are very pleased to expand in North Carolina and establish our North American headquarters in Charlotte," stated JELD-WEN President Philip Orsino. "The company employs 10,000 people across North America in more than 50 plants and facilities. This expansion in Charlotte is integral to our overall plans for growth."
JELD-WEN currently has 260 employees in North Carolina at two different manufacturing locations in McDowell and Davidson counties. The company, with global headquarters in Klamath Falls, Oregon, will establish its North American headquarters office in Mecklenburg County.
Compensation will vary by job function, but the average annual payroll will be more than $13.4 million, plus benefits.
To help facilitate this expansion, the state Economic Investment Committee today voted to award a Job Development Investment Grant (JDIG) to JELD-WEN. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and would not be undertaken in North Carolina without the grant.
"We appreciate Governor Perdue's supportive policies and her team's hard work," continued Orsino. "We have had a presence in North Carolina since 1962 and we look forward to significantly increasing our investment and footprint here."
Under the terms of the JDIG, the company is eligible to receive a grant equal to 60 percent of the state's personal income withholding taxes derived from the creation of new jobs for each of the nine years in which the company meets annual performance targets. If JELD-WEN meets the targets called for under the agreement and sustains them for nine years, the JDIG could yield $2.54 million in maximum benefits for the company.
In addition, up to $849,000 could be added to the state's Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded in the state's more economically prosperous counties such as Mecklenburg, 25 percent of the grant is allocated to the Utility Fund to encourage economic development in less prosperous counties.
Other partners who assisted with this project include: the N.C. Department of Commerce, N.C. Community Colleges, the Charlotte Chamber and Charlotte Center City Partners.
For more information about JELD-WEN, including job opportunities, visit www.jeld-wen.com.