The uptake: an additional 62 new jobs “at above-average” Wake County wages, and close to $20 million in local investment over a five-year period.
The company plans to break ground in September 2020, with a move-in date scheduled for June 2021.
“Raleigh’s economy is driven by innovation and collaboration,” said Raleigh Mayor Nancy McFarlane, who is scheduled to attend a ribbon-cutting ceremony celebrating the news later today.
“Companies, and organizations like Schmalz Inc. that are growing here, and developing new and exciting products, play an important role in the quality of life we all enjoy.”
The expansion project is one of the first projects to qualify for the Wake County’s Targeted Growth Area Incentive Grant Program, which works to support growth in underdeveloped corners of the county.
“We applaud the company for expanding its operations in a part of the county that’s faced challenges economically,” Jessica Holmes, chair of the Wake County Board of Commissioners, said in a statement.
“This particular expansion fits with Wake County’s goal to foster inclusive and equitable economic development thereby strengthening our existing industries and workforce,” added Michael Haley, executive director of Wake County Economic Development.
Founded in 1910, the firm, which focuses on vacuum automation and ergonomic handling solutions, set up its Raleigh headquarters 19 years ago. It has 19 offices worldwide with around 1,500 employees.
Article Source: WRAL Techwire