Caterpillar Inc. will add 40 jobs and invest $15 million in Sanford by opening a pre-assembly plant for skid-steer loaders, the Sanford Area Growth Alliance’s Bob Joyce said Wednesday.
On Tuesday, the Sanford City Council agreed to provide Caterpillar with state grant funding to renovate an existing building on Boone Trail Road. The city received a $500,000 grant from the N.C. Department of Commerce’s building reuse program. Caterpillar will receive all of the grant funds.
The grant will act as a loan for two years, according to Joyce, SAGA’s executive director of economic development. Caterpillar has two years to fill the 40 new positions, he said. The jobs must pay at or above the Lee County prevailing wage of $39,092, Joyce added.
Joyce said the grant requires a 5 percent local match of $12,500, which Caterpillar would pay.
The 145,410 square-foot building, located at 2018 Boone Trail Road, previously housed a textile spinning mill and most recently served a company that sold clothes to third-world markets, Joyce said.
Joyce said the project shows Caterpillar’s continued commitment to the area. The company opened a plant in Sanford in 1999 and has expanded several times since.
“This most recent expansion I think confirms to us that we are a good community partner for Caterpillar and that they see more opportunity here with their manufacturing of skid-steer loaders,” Joyce said Wednesday.
Caterpillar’s main plant in Sanford is located in the Central Carolina Enterprise Park at 5000 Womack Road. Joyce said the new plant would support the manufacturing of the skid-steer loaders, which are made in the primary plant.
Article source: Sanford Herald