Advanced Tool Manufacturer to Create 53 New Jobs in Charlotte

  Governor Pat McCrory and N.C. Commerce Secretary Sharon Decker announced today that YG-1 America, Inc. is planning to locate its advanced manufacturing operation in Mecklenburg County, creating 53 jobs and investing approximately $13.8 million over the next three years in Charlotte.
 
"My administration continues to aggressively recruit and expand international businesses like YG-1 America throughout North Carolina,” said Governor McCrory. "Today's job announcement shows that by working together and effectively leveraging our state's talent and resources, North Carolina will continue to be a leader in manufacturing." 
 
YG-1 America, Inc. is a subsidiary of YG-1 Co., Ltd., which is among the fastest growing companies in the advanced tool manufacturing industry. It produces numerous instruments including drills, taps, end mills, spade drills and rotary tooling. The high worker productivity has given YG-1 strong growth over the last 22 years, and its economies of scale have led to this expansion in the North Carolina marketplace. It exports to 53 countries and has manufacturing partners in the United States, Ireland, South Korea and China. 
 
“Jobs are the key to thriving communities,” said Secretary Decker. “We thank YG-1 America for this key investment in Mecklenburg County, and look forward to working closely with them for years to come.” 
 
Salaries will vary by job function, but the average annual wage for the new jobs will likely exceed $59,831 plus benefits. The Mecklenburg County average annual wage is $59,046.  
 
“We chose Charlotte because of its optimistic growth and bright future business outlook both domestically and internationally,” said Mr. H.K. Song, chairman and president of YG-1 Co., Ltd. “This makes Charlotte an ideal location for recruiting, retaining and discovering needed talent in our highly competitive sector. We appreciate the assistance of Governor McCrory and the Department of Commerce and look forward to commencing operations in Charlotte.” 
 
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $135,000. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds.  These grants also require and are contingent upon local matches. 
 
“Charlotte is a wonderful place to live and a great place to do business,” said Senator Jeff Jackson. “We are thrilled to welcome YG-1 America to Charlotte.” 
 
“I share Governor McCrory’s vision in making job creation a top priority,” said Rep. Becky Carney. “Our investments in infrastructure, strong workforce and low cost of doing business have created a top-notch business climate.”   
 
Other partners that helped with this project include: the N.C. Department of Commerce, Mecklenburg County, the City of Charlotte, the Charlotte Chamber of Commerce, and Duke Energy.