Business Facilities - December 2007 - (Page 11)

CORPORATE MOVES North Carolina By Karim Khan INC Research Grows in NC O ne of North Carolina’s biggest project announcements of 2007 occurred in October when INC Research, Inc. was awarded a state Job Development Investment Grant (JDIG) to expand in Raleigh, NC. INC Research is a contract research organization that conducts global clinical development programs for pharmaceutical and biotechnology companies. The company plans to add 1,093 jobs and make a capital investment of $19.2 million in the Raleigh facility over the next four years. A discretionary incentive, JDIG will provide annual grants for up to nine years, and will be linked to INC Research jobs in management and clinical research, among other areas. While wages will vary by job function and responsibility, the average salary for these new positions will be $62,690 a year plus benefits, which is more than the Wake County average of $35,672, not including benefits. INC Research must meet annual performance targets to receive annual payments. Every year the company meets the required performance targets, the state will provide a grant equal to 60% of the state personal income withholding taxes derived from the creation of new jobs. If it meets all the terms in the agree- North Carolina Governor Mike Easley (left) and INC Research CEO Jim Ogle announcing INC Research’s expansion in October. ment, INC Research could receive as much as $14.845 million in maximum benefits. The state estimates that during the nine-year agreement, it will reap an extra $724 million in economic output from the expansion, along with nearly $10 million in direct state revenue. Since 2003, the JDIG has been intergral in luring expansions and relocations to North Carolina. BOATMAKER TO INCREASE PRODUCTION IN NORTH CAROLINA runswick Corporation —the world’s largest maker of pleasure boats, with 2006 net sales of $2.8 billion—announced in July that it will begin manufacturing boats in Navassa, NC. The project, Brunswick CEO and state officials bolstered by a JDIG, is announce Brunswick’s Navassa facility. estimated to create 858 jobs and $51.2 million of investment over five years. The Navassa facility has the necessary space and deep water access for Brunswick to meet growing demands for boats 45 feet and larger, according to CEO Dustan McCoy. McCoy cites the maritime heritage, skilled marine workforce, and hospitable business climate of North Carolina as reasons for his company’s commitment to the state. Brunswick currently employs about 1,500 people at manufacturing facilities and plants in North Carolina. Over 10 years, the JDIG could be worth $4.36 million to Brunswick if it meets all of the grant’s terms. B Military Vehicle Manufacturer Establishes North Carolina Presence orce Protection, Inc., a South Carolina company that makes mine- and blast-protected vehicles for the armed forces, announced over the summer that it will open a manufacturing facility in Person County, NC. The project, made possible in part by One North Carolina Fund and JDIG awards, will create 270 jobs and an investment of $31 million over the next four years. The company is moving into a 430,000-squarefoot former Collins & Aikman plant outside Roxboro, NC, making it the firm’s second manufacturing facility and its first plant in North Carolina. Force Protection will use the Person County facility for additional capacity for current and future products, including its new “Cheetah” vehicle line. BUSINESS FACILITIES 11 F PHOTO CREDITS: NC OFFICE OF THE GOVERNOR; WILMINGTON-STAR/ANA RIBEIRO; FORCE PROTECTION, INC.

Table of Contents Feed for the Digital Edition of Business Facilities - December 2007

Business Facilities - December 2007 Contents First Word Snapshots Metro Spotlight: Albuquerque, New Mexico Corporate Moves: North Carolina 2007 Ecomonic Development Deal of the Year Awards State of the Year Seeking Supply Chain Solutions Mississippi Means Business Corporate Moves: South Carolina Biomedical Momentum in Florida's High Tech Corridor Trends in Offshoring Metro Spotlight: Stillwater, OK Metro Spotlight: Atlanta, GA Advertiser Information 2007 Salary Survey

Business Facilities - December 2007

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