Duplin plant to receive grant for 89 jobs
By From staff reports
Published in News on November 7, 2010 1:50 AM
BEULAVILLE -- A state grant will help a Duplin County plant add 89 jobs and make a $3.4 million investment over the next three years.
Gov. Bev Perdue Friday afternoon announced that Precision Hydraulic Cylinders Inc. (PHC), a leading manufacturer of precision hydraulic cylinders, will expand its Beulaville production facility. The project was made possible in part by a $92,000 grant from the One North Carolina Fund.
Salaries will vary by job function, but the average annual wage for the new jobs will be $26,777 not including benefits. The Duplin County average annual wage is $26,729.
Duplin County Manager Mike Aldridge said the county and town of Beulaville plan to provide funds to match the $92,000. Those local matches have not yet been finalized, he said.
The county is proposing $72,000 with anoter $20,000 proposed by the town of Beulaville.
Established in January 2002, PHC is a global manufacturer of hydraulic cylinders. It is a privately owned, North Carolina based company with headquarters in Wilmington.
The company presently has four manufacturing facilities located in Beulaville and Wallace in Duplin County, Cramling-ton, England, and Chennai, India.
"Congratulations to PHC on this terrific step forward, both for the company and our continuing efforts to create jobs in eastern North Carolina," Gov. Perdue said in a prepared statement. "PHC is a homegrown company, and their expansion provides another example of how our skilled workforce and top-ranked business climate are not just attracting manufacturers worldwide but also fueling growth among our business neighbors who are already here."
"The company's absolute commitment to providing its' customers with the highest quality products, on-time deliveries and superior overall value has created this opportunity for continued growth," Christopher Barclay, PHC's president and CEO, said. "The support from the state has definitely helped us make the decision to expand here in North Carolina."
The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
Through use of the One NC Fund, more than 45,000 jobs and $8 billion in investment have been created since 2001. Other partners that helped with this project include the N.C. Department of Commerce, N.C. Community Colleges, Duplin County and the town of Beulaville.
For more information about Precision Hydraulic Cylinders, Inc., including job opportunities visit www. phc-global.com.