Krystal Engineering Launches New Facility in Caldwell County, Creating 82 New Jobs
Governor Pat McCrory, N.C. Commerce Secretary John E. Skvarla, III, and the Economic Development Partnership of N.C. announced today that Krystal Engineering, LLC, will open a production facility in Caldwell County, ramping up an 82-person workforce during the next five years. The company, a leading global processor of materials for electronics components, plans to invest $20.9 million at the site over that period.
“Krystal Engineering will make a valuable addition to North Carolina’s manufacturing sector,” said Governor McCrory. “The company will recruit a great workforce with pay and benefits that are nearly double the county’s average annual wage.”
Since Governor McCrory took office in January of 2013, North Carolina has witnessed the net creation of more than 260,000 private-sector jobs.
Florida-based Krystal Engineering produces a wide range of components fabricated from several single-crystal piezoelectric, optical, and other proprietary materials that are integrated into a multitude of end-product applications including aerospace, automotive, industrial, medical and telecommunications.
“North Carolina is a destination for a wide variety of companies across numerous industries, but one recurring theme is a commitment to innovation,” said Secretary Skvarla. “Krystal Engineering’s dedication to innovation and customer responsiveness makes it a perfect fit for North Carolina.”
Starting in the third quarter of 2016, Krystal Engineering will hire highly skilled CNC machine operators, skilled craftsmen, quality engineering technicians, management personnel and other employees for its new operations in Caldwell County. While compensation will vary by position, jobs at the facility will average $60,580 per year. Annual wages in Caldwell County currently average $32,812.
“There were a number of factors that attracted us to Caldwell County including access to highly reliable, and low cost electrical energy, an excellent pool of local talent and the facility provided by Caldwell Community College to support the recruitment and training of local personnel were all important factors,” said Krystal Engineering Chief Executive Officer Mark Rauchfuss. “Perhaps the most important advantage for us has been the long standing relationships we have with several key members of the business community here. The level of enthusiasm and desire that we encountered has been extraordinary - no other state is able to offer this combination of compelling attributes.”
This new operation in North Carolina is due in part to a performance-based grant of up to $500,000 from the One North Carolina Fund. The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for grant funds. All One NC grants require a local government match.
“Today’s announcement is great news for our local economy, and I look forward to welcoming Krystal Engineering as an important new member of our business community,” said state Representative George Robinson.
In addition to North Carolina Commerce and EDPNC, other partners in the project include the North Carolina General Assembly, the North Carolina Community College System, Caldwell County, the Caldwell County Economic Development Commission, Caldwell Community College and Technical Institute, the Town of Granite Falls and ElectriCities.