NC: Lydall to Add 170 Jobs in Yadkin County
7 Mar, 2011
State Grant Helps Company Expand in Yadkinville
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Gov. Bev Perdue recently announced that Lydall, a manufacturer of specialty thermal/acoustical products for the automotive industry, will expand their manufacturing facility in Hamptonville and open a new manufacturing and distribution facility in Yadkinville. The company plans to create 170 jobs and invest $18.5 million during the next three years in Yadkin County. The project was made possible in part by a $300,000 grant from the One North Carolina Fund.
“It’s great to see Lydall significantly increase their investment in Yadkin County, because they see firsthand the value of doing business in North Carolina,” said Gov. Perdue. “Creating jobs is my number one priority, especially in areas of the state that have been hit so hard by the decline in our traditional manufacturing industries.”
Lydall is a manufacturer of specialty thermal/acoustical products. Lydall’s automotive products protect people and components from extreme heat and insulate from noise and vibration. To meet the growing demands of their customer base, Lydall will expand their operation in Yadkin County. The company plans to make improvements at their current Hamptonville facility that employs 500 workers and will lease additional space in a new Yadkinville facility.
Salaries will vary by job function, but the average annual wage for the new jobs will be $25,294 plus benefits. The Yadkin County average annual wage is $27,716.
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.
North Carolina continues to have a top-ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.
Through use of the One NC Fund, more than 50,000 jobs and $9 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, the Yadkin County Economic Development Partnership, Yadkin County and the Town of Yadkinville.
For more information about Lydall, including job opportunities, go to www.lydall.com.