Raleigh
May 7, 2014
, N.C. - Governor Pat McCrory and N.C. Commerce Secretary Sharon Decker announced today that BorgWarner Turbo Systems is expanding its North Carolina manufacturing operations in Buncombe County. The company plans to create 63 jobs and invest more than $32 million over the next three years in Arden.
"Companies across North Carolina are choosing to expand because our economic environment allows job growth to flourish and innovations to thrive," said Governor McCrory. "BorgWarner Turbo Systems’ expansion will not only result in more growth for our thriving advanced manufacturing industry, but it will deliver millions of dollars in capital investment to western North Carolina.”
BorgWarner Turbo Systems is a global technology leader and manufacturer of turbocharging technologies designed to improve fuel economy, emissions and performance. BorgWarner turbochargers boost a wide range of vehicles, from commercial trucks and off-highway equipment to high-performance race cars. In fact, every car in the Verizon IndyCar® Series is equipped with a BorgWarner EFR (engineered for racing) turbocharger.
Tighter emissions regulations and the push for more fuel-efficient vehicles are driving the need for more turbocharged engines. As a result, the U.S. turbocharger market is growing rapidly. BorgWarner expects production in North America to more than double over the next five years. Globally, volumes for light vehicle turbocharger production are forecast to increase from 29 million in 2014 to 43 million in 2019.
“Since 1977, BorgWarner Turbo Systems has grown significantly in the Asheville area, employing over 650 people today. As demand for our world-leading turbocharging technologies escalates, BorgWarner will continue to leverage the strong and talented local labor pool,” said Frédéric Lissalde, president and general manager, BorgWarner Turbo Systems. “We are excited about our business prospects and look forward to working with North Carolina and Buncombe County to enhance the local economy.”
"BorgWarner Turbo Systems’ expansion in western North Carolina will allow them to take advantage of our world-class workforce,” said Secretary Decker.
Salaries will vary by job function, but the average annual wage for the new jobs will be $69,524 plus benefits. The Buncombe County average annual wage is $35,784.
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $126,000. 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.
“My senate office is committed to partnering with businesses and the McCrory administration in helping our economy succeed,” said Senator Tom Apodaca. “BorgWarner Turbo Systems’ expansion here in Arden is superb news for our local economy.”
"I couldn’t be more pleased that BorgWarner continues to expand their operations here locally,” said Representative Tim Moffitt. “They’ve always been a valuable member of our community — and this latest welcome news means even more good-paying jobs for the people of Buncombe County. It also demonstrates in a very practical way how lower taxes and a more welcoming regulatory environment can help pave the way for real economic development in our state. I’d like to thank BorgWarner for believing in North Carolina and the people of Buncombe County."
Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Asheville-Buncombe Technical Community College, Buncombe County and the Economic Development Coalition for Asheville-Buncombe County.
BorgWarner Inc. (NYSE: BWA) is a product leader in highly engineered components and systems for powertrains around the world. Operating manufacturing and technical facilities in 60 locations in 19 countries, the company delivers innovative powertrain solutions to improve fuel economy, reduce emissions and enhance performance.
For more information about hiring opportunities with BorgWarner Turbo Systems, please visit www.borgwarner.com.
IndyCar (and Design) are registered trademarks of Brickyard Trademarks, Inc. Verizon is a registered trademark of Verizon Communications Inc. Both trademarks are used with permission.
"Companies across North Carolina are choosing to expand because our economic environment allows job growth to flourish and innovations to thrive," said Governor McCrory. "BorgWarner Turbo Systems’ expansion will not only result in more growth for our thriving advanced manufacturing industry, but it will deliver millions of dollars in capital investment to western North Carolina.”
BorgWarner Turbo Systems is a global technology leader and manufacturer of turbocharging technologies designed to improve fuel economy, emissions and performance. BorgWarner turbochargers boost a wide range of vehicles, from commercial trucks and off-highway equipment to high-performance race cars. In fact, every car in the Verizon IndyCar® Series is equipped with a BorgWarner EFR (engineered for racing) turbocharger.
Tighter emissions regulations and the push for more fuel-efficient vehicles are driving the need for more turbocharged engines. As a result, the U.S. turbocharger market is growing rapidly. BorgWarner expects production in North America to more than double over the next five years. Globally, volumes for light vehicle turbocharger production are forecast to increase from 29 million in 2014 to 43 million in 2019.
“Since 1977, BorgWarner Turbo Systems has grown significantly in the Asheville area, employing over 650 people today. As demand for our world-leading turbocharging technologies escalates, BorgWarner will continue to leverage the strong and talented local labor pool,” said Frédéric Lissalde, president and general manager, BorgWarner Turbo Systems. “We are excited about our business prospects and look forward to working with North Carolina and Buncombe County to enhance the local economy.”
"BorgWarner Turbo Systems’ expansion in western North Carolina will allow them to take advantage of our world-class workforce,” said Secretary Decker.
Salaries will vary by job function, but the average annual wage for the new jobs will be $69,524 plus benefits. The Buncombe County average annual wage is $35,784.
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $126,000. 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.
“My senate office is committed to partnering with businesses and the McCrory administration in helping our economy succeed,” said Senator Tom Apodaca. “BorgWarner Turbo Systems’ expansion here in Arden is superb news for our local economy.”
"I couldn’t be more pleased that BorgWarner continues to expand their operations here locally,” said Representative Tim Moffitt. “They’ve always been a valuable member of our community — and this latest welcome news means even more good-paying jobs for the people of Buncombe County. It also demonstrates in a very practical way how lower taxes and a more welcoming regulatory environment can help pave the way for real economic development in our state. I’d like to thank BorgWarner for believing in North Carolina and the people of Buncombe County."
Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Asheville-Buncombe Technical Community College, Buncombe County and the Economic Development Coalition for Asheville-Buncombe County.
BorgWarner Inc. (NYSE: BWA) is a product leader in highly engineered components and systems for powertrains around the world. Operating manufacturing and technical facilities in 60 locations in 19 countries, the company delivers innovative powertrain solutions to improve fuel economy, reduce emissions and enhance performance.
For more information about hiring opportunities with BorgWarner Turbo Systems, please visit www.borgwarner.com.
IndyCar (and Design) are registered trademarks of Brickyard Trademarks, Inc. Verizon is a registered trademark of Verizon Communications Inc. Both trademarks are used with permission.