Raleigh, N.C.
Feb 28, 2014
Governor Pat McCrory and N.C. Commerce Secretary Sharon Decker announced today that Kearfott Corporation is planning to expand its North Carolina manufacturing operations in Buncombe County. When the One NC grant is carried through to completion, it will result in the creation of 75 jobs and an investment of approximately $11.8 million over the next three years in Black Mountain.
“By working closely with companies like Kearfott, together, we can get big things done to make Western North Carolina’s economy stronger,” said Governor McCrory. “Not only will this expansion encourage more economic growth in the region, it will also give an extra boost to North Carolina’s flourishing advanced manufacturing workforce.”
Kearfott Corporation is a full service design, manufacturing and support center for a variety of guidance and navigation systems for commercial and military applications. These include aircraft, spacecraft, sea systems and land vehicles. Kearfott currently employs 336 workers in North Carolina.
“Better-paying jobs are the key to thriving communities, which are essential to the economic well-being of our entire state,” said Secretary Decker. “We thank Kearfott Corporation for their continuing commitment to Western North Carolina.”
Kearfott Corporation’s products literally encompass the universe. In space, they guide and navigate satellites, the space shuttle and strategic missiles. At sea, Kearfott products function on submarines, Autonomous Underwater Vehicles (AUVs) and surface ships. Additionally, they navigate and point for the armies of the world, in hostile environments, on wheeled and tracked vehicles and provide technical fire control for the most modern tanks and howitzers.
Salaries will vary by job function, but the average annual wage for the new jobs will likely exceed $46,000 plus benefits. The Buncombe County average annual wage is $35,784.
“Kearfott carefully evaluated several potential locations for expansion, with Western North Carolina emerging as the clear winner,” said Kearfott President, Craig Scott. “Our high technology inertial and motion control product line developments depend on the highly- skilled workforce available in the region. We have had a long-standing presence in the area and are pleased to contribute to the well-being of the community.”
“Kearfott’s announcement makes our region more competitive and lets private sector employers know that Buncombe County is the place where they should open their doors,” said Representative Nathan Ramsey. “We thank Governor McCrory and Secretary Decker for their continued emphasis on Western North Carolina’s economy.”
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $75,000. 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.
“Kearfott Corporation’s expansion is great news for Buncombe County and the region,” said Representative Tim Moffitt. “It looks like our tax reform efforts are already showing tangible results — by fostering business growth and opening pathways for good-paying jobs.”
“Advanced manufacturing is bringing jobs to Western North Carolina,” said Senator Tom Apodaca. “Governor McCrory and I are committed to partnering with companies like Kearfott to create more jobs right here in 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 of Asheville-Buncombe County.
“By working closely with companies like Kearfott, together, we can get big things done to make Western North Carolina’s economy stronger,” said Governor McCrory. “Not only will this expansion encourage more economic growth in the region, it will also give an extra boost to North Carolina’s flourishing advanced manufacturing workforce.”
Kearfott Corporation is a full service design, manufacturing and support center for a variety of guidance and navigation systems for commercial and military applications. These include aircraft, spacecraft, sea systems and land vehicles. Kearfott currently employs 336 workers in North Carolina.
“Better-paying jobs are the key to thriving communities, which are essential to the economic well-being of our entire state,” said Secretary Decker. “We thank Kearfott Corporation for their continuing commitment to Western North Carolina.”
Kearfott Corporation’s products literally encompass the universe. In space, they guide and navigate satellites, the space shuttle and strategic missiles. At sea, Kearfott products function on submarines, Autonomous Underwater Vehicles (AUVs) and surface ships. Additionally, they navigate and point for the armies of the world, in hostile environments, on wheeled and tracked vehicles and provide technical fire control for the most modern tanks and howitzers.
Salaries will vary by job function, but the average annual wage for the new jobs will likely exceed $46,000 plus benefits. The Buncombe County average annual wage is $35,784.
“Kearfott carefully evaluated several potential locations for expansion, with Western North Carolina emerging as the clear winner,” said Kearfott President, Craig Scott. “Our high technology inertial and motion control product line developments depend on the highly- skilled workforce available in the region. We have had a long-standing presence in the area and are pleased to contribute to the well-being of the community.”
“Kearfott’s announcement makes our region more competitive and lets private sector employers know that Buncombe County is the place where they should open their doors,” said Representative Nathan Ramsey. “We thank Governor McCrory and Secretary Decker for their continued emphasis on Western North Carolina’s economy.”
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $75,000. 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.
“Kearfott Corporation’s expansion is great news for Buncombe County and the region,” said Representative Tim Moffitt. “It looks like our tax reform efforts are already showing tangible results — by fostering business growth and opening pathways for good-paying jobs.”
“Advanced manufacturing is bringing jobs to Western North Carolina,” said Senator Tom Apodaca. “Governor McCrory and I are committed to partnering with companies like Kearfott to create more jobs right here in 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 of Asheville-Buncombe County.