Precor Inc. to Build Mfg. Facility; Create 142 New Jobs; Invest $26.2M
25 Jan, 2009
Gov. Mike Easley announced that Precor Inc., an international manufacturer of physical fitness equipment, will build a manufacturing facility in Greensboro, investing $26.2 million and adding 142 jobs during the next three years. The project was made possible in part by a $142,000 grant from the One North Carolina Fund.
“Companies like Precor know North Carolina provides the skilled and motivated workforce that will help them succeed,” said Easley. “In this competitive climate, businesses recognize that our state continues to make the kinds of investments that enable them to innovate and grow.”
Precor, headquartered near Seattle in Woodinville, Wash., is a global leader in fitness equipment, offering a broad range of cardiovascular and strength-training equipment for homes and fitness facilities. In Greensboro, Precor plans to manufacture commercial strength equipment for a range of venues including health clubs, hotels, universities and multifamily housing. Greensboro was selected following a national search focusing on location, workforce quality and facility operating costs. Precor is a brand of Amer Sports Corp., the world’s largest sports equipment company.
Salaries for the 142 new positions will vary by job type, but the average annual wage will be $38,456 not including benefits, which is more than the Guilford County average annual wage of $37,700.
“Precor’s commercial strength business is growing rapidly, and this new North Carolina facility will be key to our ability to serve increasing customer demand,” said Paul Byrne, president of Precor. “We’re looking forward to bringing the facility online, and becoming an active and productive member of the Guilford County business community.”
The One North Carolina Fund provides financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state. Through the use of the One North Carolina Fund, more than 35,000 jobs and $6.5 billion in investment have been created since 2001. All of these grants require local matches.
Other partners who helped with this project include: the N.C. Department of Commerce, N.C. Employment Security Commission, N.C. Community College System, Guilford County, Duke Energy and the Greensboro Economic Development Alliance.