Baldor beefing up local plant

Gov. Bev Perdue announced Monday that Baldor Electric Company will expand its plant in McDowell County and create 41 new jobs.

Baldor Electric plans to invest $17.7 million during the next three years at its Marion plant located in the county’s industrial park. Baldor is a global marketer, designer and manufacturer of industrial electric motors, mechanical transmission products, drives and generators.

The expansion project was made possible in part by a $123,000 grant from the One North Carolina Fund.

“Creating jobs remains my top priority, and one of the best ways to do that is to promote expansion by companies that already call North Carolina home,” Perdue said. “Our skilled workforce, job training programs and excellent business climate are known worldwide, making North Carolina an ideal location for global manufacturers like Baldor.”

In September, the McDowell County Commissioners held a public hearing about an economic development project. At the time, county officials said the company plans to invest more than $17 million in machinery, equipment and a new facility, which would be an expansion of the existing building.

“This is quite a bit more sizeable on the investment side,” said County Manager Chuck Abernathy in September.

McDowell was also competing with a community in another state for the expansion. After holding the hearing, the commissioners unanimously approved a $196,000 incentive, which will be paid over a period of five years.

On Monday, Abernathy, who is also the county’s economic development director, said this is a major investment into the local plant.

“It’s very high,” he said. “This is a big deal.”

“Here again is another example of our local industrial sector providing jobs in McDowell County,” said Commission Chairman David Walker. “It is important that the Board of Commissioners continue to support and aid our local companies as they continue to invest in machinery and equipment.”

Tracy Long, vice president of marketing with Baldor, said her company plans to expand the existing building in Marion during the next three years. The 41 new jobs will exist throughout the plant, ranging from manufacturing to engineering.

The 150,000-square-foot building in the industrial park will grow by an additional 90,000 square feet.

Folks interested in getting a new job with Baldor should check out www.baldor.com.

“As jobs become available, they will be posted to our website,” said Long.

Baldor, headquartered in Arkansas, is a member of the ABB Group. They supply more than 10,000 customers in more than 160 industries worldwide. Baldor currently has more than 750 employees at North Carolina facilities in Marion, Weaverville and Kings Mountain. The company will be expanding its roller bearing manufacturing capacity in its Marion facility to support global growth.

“The state of North Carolina and the One North Carolina Fund has been supportive of our strategy of building products efficiently in the U.S. for sale on a global basis,” said Ron Tucker, Baldor’s CEO and president. “As a member of the ABB group, we now have many global opportunities to grow our business. We can best support this growth with dedicated employees who take excellent care of our customers. We are proud to have employees like this in our North Carolina facilities.”

Salaries will vary by job function, but the average annual wage for the new jobs will be $35,322, plus benefits. The McDowell County average annual wage is $29,224. 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, according to a news release.

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, McDowell County and McDowell Economic Development Association.