KSM Castings, the Germany-based manufacturer of light metal casting, will open its first U.S. manufacturing facility in Cleveland County by the end of 2018, investing over $45 million in the area and creating up to 189 jobs.
KSM will outfit the 110,000-sq-ft facility with eight to 10 high-pressure die-casting machines to produce transmission, engine, and steering parts. The company has already touted future expansion options, including “the production of gearbox housings, and body and chassis applications that partly require additional production processes such as gravity die-casting and counter pressure casting.”
According to Area Development Online, the facility was made possible in part by grants and awards from the state of North Carolina. Among incentives extended to KSM was a $705,000 performance-based grant from the North Carolina Fund and an award from the state’s Economic Investment Committee’s Job Development Investment Grant, which could total up to $2.86 million over 12 years. KSM has stated that the manufacturing facility’s initial job offers are expected to be $42,810 plus benefits — significantly higher than the local average annual wage of $32,760.
“My administration will work with businesses like KSM Castings to help them grow and expand jobs,” Governor Pat McCrory told Area Development Online. “Today’s job announcement shows that by working together and effectively leveraging our state’s talent and resources, North Carolina can be a leader in manufacturing once again.”