SC: WABCO to Invest $17M to Build New Site in the Lowcountry, Add 50 Jobs
26 Mar, 2015
WABCO, a leading innovator and global supplier of technologies that improve the safety and efficiency of commercial vehicles, is expanding its compression and braking business operations in the Lowcountry. WABCO is investing $17 million to establish a new manufacturing site in North Charleston, S.C. The investment is expected to create more than 50 new jobs and help sustain approximately 175 existing jobs.
WABCO first established compression operations in South Carolina with WABCO Compressor Manufacturing Company's Lowcountry facility in 1996. WABCO manufactures air compressors and other braking system components at the facility.
Having outgrown its existing space, WABCO has decided to relocate to a larger, 145,000-square-foot facility in Dorchester County. Located near the intersection of Dorchester Road and Lincoln Patriot Boulevard in North Charleston, S.C., the new building is expected to be fully constructed by the end of the year. Expanded operations will enable the company to better meet increased customer demand for air compressors and air disc brakes for trucks, buses and trailers in North America. Hiring for most of the new positions is anticipated to take place from the end of 2015 through 2016.
The Coordinating Council for Economic Development has approved a $250,000 grant to Dorchester County to assist with the costs of real property improvements as well as job development credits related to the project.
WABCO was founded in the United States in 1869 as Westinghouse Air Brake Company. Today, the company is recognized as an industry leader for safety and efficiency technologies for commercial vehicle manufacturers and fleet operators around the globe. WABCO pioneered the first anti-lock braking system (ABS) for commercial vehicles in 1981.
"We are excited to expand our manufacturing operations in South Carolina to better serve our customers in the United States. Our investment will sustain existing jobs and create new high-tech manufacturing jobs in the state. We greatly value the collaborative spirit and support of both state and county officials in the process." -Nik Varty, WABCO President, Americas
"It's exciting for the entire state of South Carolina when we can celebrate the success of a company, like WABCO, that has been doing business here for so long. WABCO's decision to invest $17 million and create 50 new jobs in a new Dorchester County facility will make a real difference in the Lowcountry, and we look forward to supporting its success as it continues to thrive in our state." -Gov. Nikki Haley
"Today's announcement is yet another victory for South Carolina's robust manufacturing industry. I'm excited by all of the success WABCO has achieved in our state, and I'm even more excited to see what they'll be able to accomplish in this new facility." -Secretary of Commerce Bobby Hitt
"SC Ports Authority congratulates WABCO Compressor Manufacturing Inc. on the expansion of their operations. The port plays an important role in serving the import needs of manufacturers across our state, and we look forward to supporting WABCO's continued growth." -SC Ports Authority President and CEO Jim Newsome
"We are both pleased and excited to welcome WABCO Compressor Manufacturing Company. We wish them much success and stand ready to assist them as they begin operations in Dorchester County." -Dorchester County Council Chairman David Chinnis
"Today, we take part in announcing the success of a strong, vibrant company, a capable workforce, and a business friendly community. We have long been proud to have WABCO as part of our city, applaud their expansion, and very much look forward to the company's future accomplishments. As always, it is the goal of the City of North Charleston to remain ideal for businesses to flourish and attentive to the needs of our local industries." -City of North Charleston Mayor Keith Summey
· WABCO is expanding its South Carolina operations with a new facility in Dorchester County.
· $17 million investment expected to create 50 new jobs, sustain 175 existing jobs.
· Company will relocate to a new, 145,000-square-foot facility in North Charleston, S.C.
· WABCO was founded in the United States in 1869 as Westinghouse Air Brake Company.
· Hiring for most of the new positions is anticipated to take place from the end of 2015 through 2016.
WABCO (NYSE: WBC) is a leading innovator and global supplier of technologies that improve the safety and efficiency of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough products and systems for braking, stability, suspension, transmission automation, and aerodynamics. Today, all of the world's leading truck, bus and trailer manufacturers have WABCO technologies onboard. In addition, WABCO provides the industry with advanced fleet management solutions and aftermarket services. WABCO reported sales of $2.9 billion in 2014. The company is headquartered in Brussels, Belgium, and has 11,000 employees worldwide. For more information, visit www.wabco-auto.com.
About S.C. Department of Commerce
As South Carolina's leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. Commerce has recruited world-class companies to South Carolina such as Boeing, Bridgestone, Continental, Monster.com, ZF Group, BMW and Google Inc. and also supports startups, small and existing business, innovation and rural development initiatives. Commerce partners with the S.C Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. Consistently, South Carolina has ranked as one of the top states in the nation for attracting jobs through foreign investment, according to IBM-Plant Location International reports. For more information, visit www.SCcommerce.com.