Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced today that ASMO North America, a global supplier of advanced automotive technology, systems and components, will expand its manufacturing operations in Pitt County. The company plans to create 200 new jobs in North Carolina by the end of 2016 and invest $50 million in its Greenville location.
“ASMO has a great presence in North Carolina and we’re thrilled that they see the value in growing with us in Eastern North Carolina,” said Governor McCrory. “They are one of our strong automotive manufacturing partners and have succeeded due to product design and demand, as well as our business-friendly climate in the state.”
ASMO North America has had a presence in Greenville since 1995, where it currently employs more than 530 people. The company manufactures front wiper motor linkages, arm and blades and radiator fan motors in Greenville for its North American customers. ASMO North America is a wholly-owned subsidiary of ASMO, Co. LTD which is headquartered in Kosai City, Japan. The company also operates manufacturing facilities in Statesville, NC, as well as in Texas and Michigan.
"We very much appreciate the support from the state of North Carolina, Pitt County and the City of Greenville,” said Takashi Akai, president of ASMO Greenville of NC. “We are committed to remaining a market leader and continue to manufacture products in Eastern North Carolina. Our expansion will require highly-skilled associates and we look forward to strengthening our ties with Pitt Community College to provide the training needed for the future. We wish to thank everyone involved in this project.”
“We are committed to creating new jobs in North Carolina and know that we have the attributes that advanced manufacturing companies like ASMO need to succeed,” said Sharon Decker, North Carolina Secretary of Commerce. “We applaud the ASMO executives for their commitment to reinvest in Eastern North Carolina and expand their global footprint in Pitt County.”
ASMO’s expansion in Greenville will enable them to add more assembly lines and die cast machines to meet growth expectations. The company currently maintains a #1 market share for these automotive parts. ASMO manufactures and ships their products directly to Toyota, Honda, Ford, Chrysler, General Motors, Hyundai, Kia, Nissan and BMW.
Salaries will vary by job function, but the average annual salaries for the new jobs will be $34,628. The average annual wage in Pitt County is $33,769.
“I applaud the hard work of the Pitt County community,” said Rep. Brian Brown. “The ASMO expansion is a result of a large collaboration of community resources. I am excited to see the continued economic growth of our county and region. The ASMO expansion will provide Pitt County with 200 much needed full time advanced manufacturing jobs. I welcome this expansion and look forward to continued economic development within Pitt County.”
"I am extremely excited about the ASMO North America expansion," said Sen. Don Davis. "These new jobs are extremely important to our community, and this investment will help boost our economy."
The project was made possible in part by an award to ASMO from the state Job Development Investment Grant (JDIG) program, as voted by the state Economic Investment Committee. Receipt of the award is based on proof of job creation and other performance requirements. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state, and which would not be undertaken in North Carolina without the grant.
Under the terms of the company’s JDIG award, ASMO is eligible to receive up to 12 annual grants equal to 43 percent of the state personal income tax withholdings from the eligible new jobs created since the date of the initial award. Receipt of each annual grant is based on state-certified proof that the company has fulfilled incremental job creation requirements. Over 12 years, the JDIG award could yield aggregate benefits to ASMO of up to $1,255,450.
In addition, up to $221,550 in additional funds from the company’s JDIG award could be added to the state’s Utility Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded to a company whose site is located in the state’s more economically prosperous counties such as Pitt, 15 percent of the company’s grant is allocated to the Utility Fund to encourage economic development in less prosperous counties. For more information on the county tier designations, visit: http://www.nccommerce.com/research-publications/incentive-reports/count….
Other partners who assisted with this announcement include: the N.C. Department of Commerce, N.C. Community Colleges, Pitt County, Pitt County Development Commission, Pitt County Committee of 100 and Greenville Utilities.
For more information about ASMO, including job opportunities, visit www.asmo-na.com.