Governor McCrory Announces Kaco USA to Create 100 Jobs in Lincoln County; Expansion in operations will bring $8.4 million investment
Raleigh, N.C. – Governor Pat McCrory, N.C. Commerce Secretary John E. Skvarla, III, and the Economic Development Partnership of N.C. today announced that Kaco USA Inc. will expand its production facility in Lincoln County. The company will hire an additional 100 workers over the coming three years as it invests nearly $8.4 million there.
“Kaco USA’s expansion in North Carolina is more evidence that our state is a top global destination for automotive suppliers,” said Governor McCrory. “When it comes to a world-class workforce, proximity to automakers and a welcoming business climate, nothing compares to North Carolina.”
Kaco USA manufactures high-precision sealing solutions for the automotive industry. The company is part of Germany-based KACO GmbH + Co. KG, a privately held manufacturer founded in 1914. Its Lincolnton plant is one of nine locations the company maintains worldwide. Kaco is part of the Zhongding group which maintains nine operations in North America.
“North Carolina is the Southeast’s top state for manufacturing jobs because quality-driven companies like Kaco are able to compete globally,” said Secretary Skvarla.
Kaco will add production, accounting and management personnel at its Lincolnton facility. Salaries will vary by position, but will average $34,580 per year. Lincoln County’s overall annual wages average $34,524.
“The partnership with North Carolina and Lincoln County allows Kaco to expand operations locally, as well as open the door for future expansion of the ZD Group in the state,” said Marcio Lima, President and CEO.
Kaco USA’s expansion in North Carolina was made possible in part by a performance-based grant of up to $100,000 from the One North Carolina Fund. The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for grant funds. All One NC grants require a local government match.
Since Governor McCrory entered office in January of 2013, North Carolina’s economy has generated more than 300,000 net new jobs.
In addition to North Carolina Commerce and the Economic Development Partnership of N.C., other partners in the project include the North Carolina General Assembly, Gaston College, Lincoln County and the Lincoln Economic Development Association.