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LeeBoy Continues Growth in Lincoln County by Announcing .5 Million Project

August 1, 2005

LeeBoy, a leading manufacturer of asphalt paving and road maintenance equipment, announced today it has signed a lease with The Keith Corporation to develop a new manufacturing facility in the Lincoln County Industrial Park. The total investment in building, land, machinery and equipment will be $10,500,000. The 220,000 square foot facility is expected to be operational by March 2006.

Company officials emphasized the need for additional space as the determining factor in expanding their business. “LeeBoy’s continued growth in the global marketplace has required us to expand our capacity,” states B.R. Lee’s President and CEO Kelly Majeskie. “Both our volume and product complexity necessitates upgrading and expanding our manufacturing facility.”

Lincoln County commissioners helped solidify LeeBoy’s decision to build a new facility by offering an incentive package to the company. LeeBoy will receive approximately $46,000 per year for a five year period. Lincoln County is also funding the extension of Lincoln County Parkway and utilities to serve the LeeBoy site and the remaining acreage on the east side of Finger Mill Road. “LeeBoy has been a corporate citizen of Lincoln County for many years and we are indeed pleased that they have decided to keep their operations in Lincoln County. We know that they could choose where they wished to located in order to gain the additional space they need and we are glad that those needs could be met in the Lincoln County Industrial Park. We appreciate LeeBoy’s contributions to Lincoln County’s economy and look forward to their continued success,” commented Tom Anderson, chairman, Lincoln County Board of Commissioners.

“LeeBoy is a perfect example of why Lincoln Economic Development Association (LEDA) has made working with existing industry our top priority,” stated Laura Foor, existing business coordinator with LEDA. The company has had tremendous success in Lincoln County. In 2003 the company announced they would move their Rosco division from South Dakota to their Denver, NC location and create over 100 new jobs in the county. Currently the company employs around 280 workers, making LeeBoy the ninth largest industrial employer in Lincoln County.

The Keith Corporation is developing the facility to LeeBoy’s specifications on a 30 acre site. Alan Lewis, industrial development partner for The Keith Corporation commented, “We are very pleased to win the LeeBoy build-to-suit project against bids from other developers in the region. Helping Lincoln County retain a very important, existing manufacturing industry is extremely gratifying.”

The 220,000 square foot LeeBoy project, together with the 225,000 square foot RSI expansion and the 140,000 square foot Robb & Stucky expansion in the Lincoln County Industrial Park will all be under construction this summer and fall. When completed, Lincoln County Industrial Park will have over 2,100,000 square feet in nine buildings, all but one of which has been developed in the last five years.