Meritor, Inc. [NYSE: MTOR], a supplier of commercial vehicle solutions, will add 25 new jobs in Burke County, Governor Roy Cooper announced today. The company will invest more than $4 million to expand its trailer operation in the City of Morganton.
“North Carolina has been intentional in our efforts to create a thriving manufacturing economy,” said Governor Cooper. “Companies like Meritor know they can rely on our extensive transportation network, affordability, and resilient workforce to execute their growth strategies.”
A leading supplier of drivetrain, mobility, braking, aftermarket, and powertrain solutions, Meritor has a portfolio including innovative products for commercial vehicle and industrial markets. As one of four operations in North Carolina, the Morganton expansion will increase its production capacity of axles and underframe components for the North American semi-trailer market.
“Meritor has a proud history in North Carolina,” said John Nelligan, Senior Vice President and President, Truck, Americas, at Meritor. “We look forward to further expanding our footprint with this important investment in Morganton.”
“This expansion is another example of North Carolina’s ability to support companies across all industries,” said N.C. Commerce Secretary Machelle Baker Sanders. “Growing manufacturers want to operate in places where they have access to a highly-skilled workforce for their present and future needs. North Carolina’s First in Talent plan will engage workforce development partners and training systems that will meet employers’ needs.”
The new positions will include engineers, technicians, and trainers. Although the wages will vary for each position, the average annual salary for the new positions is $63,200 with the potential to create an annual payroll impact of more than $1.5 million. Burke County’s overall average annual wage is $39,499.
A performance-based grant of $75,000 from the One North Carolina Fund will help with Meritor’s expansion in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.
“This is great news for Burke County,” said N.C. Senator Warren Daniel. “These highly skilled jobs and continued investment will make a positive impact on the people of our community.”
“Meritor’s expansion is a vote of confidence for our region,” said N.C. Representative Hugh Blackwell. “It is particularly exciting to know that the projected average wage for the company’s new employees is $63,200 per year. We look forward to supporting the company’s continued success and contributions to our local economy.”
In addition to the N.C. Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, North Carolina Community College System, Western Piedmont Community College, Western Piedmont Council of Governments, Burke County, Burke Development, Inc., and City of Morganton.