Investor News August 20, 2020

Automotive component supplier will add 61 jobs, invest $45 million in Rowan

SALISBURY — Continental Structural Plastics, a manufacturer of automotive and heavy truck composite components, will invest $45 million and add 61 jobs in the next two years to its Rowan County facility, the governor’s office and Rowan Economic Development Commission announced Thursday.

The company, based in Auburn Hills, Michigan, is a tier-one supplier for the automotive, heavy truck, HVAC and construction industries. It has more than 4,300 employees worldwide. At its facility on Statesville Boulevard, outside of the Salisbury city limits, it will add 50,000 square feet and a new paint and prime line, which is expected to speed up production as well as accommodate larger products.

Continental Structural Plastics was considering expanding several other existing sites, including locations in Ohio and Louisiana, but ultimately chose the facility in Salisbury. This is not the first time that the company has expanded operations in Rowan County.

“To us, when they do an expansion and then come back and expand again, that’s a good sign that prior expansions went well in this community,” Rowan County Commissioner Greg Edds said. “We were competing with a couple of other existing facilities. For them to come back to us with another expansion says a lot about Rowan County.”

The governor’s office said the payroll impact of the expansion will be $2 million.

“Our expansion at the Salisbury facility will enhance our ability to support programs for our heavy truck customers,” said Steve Rooney, CEO, Continental Structural Plastics. “We have a solid, talented workforce in North Carolina, and are thankful for the support from the State of North Carolina to continue our growth here.”

In a news release, Gov. Roy Cooper said the state’s manufacturing base continues to grow even during a pandemic.

“North Carolina is producing jobs and attracting companies who need our resilient, productive workforce,” Cooper said.

Companies that operate in the state and expand at existing facilities provide the strongest endorsements for the state, said North Carolina Commerce Secretary Anthony M. Copeland.

“Nothing speaks like experience, and CSP’s decision speaks volumes when it comes to North Carolina’s reputation as a business location,” Copeland said in a news release.

The company received a tax incentive grant from Rowan County. A performance-based grant of $100,000 from the One North Carolina Fund also will help facilitate Continental Structural Plastics’ expansion in Rowan County. The OneNC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All OneNC grants require a matching grant from local governments and any award is contingent upon that condition being met.

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina Community College System, Rowan County and the Rowan EDC.

“This is a good day for Rowan County,” Edds said. “Rowan has a lot of these automotive type businesses. It’s a trucking hub. This is another good company that’s in that area of manufacturing that we continue to see expan

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Copyright: Salisbury Post  | Staff Report