LINCOLNTON, N.C. (QUEEN CITY NEWS) — Longtime Lincoln County-based company Bosch is expanding with hundreds of new jobs and investing $130 million in the county.
The expansion will create 400 new jobs over the next five years. In addition to job creation, the company will add more than 325,000 square feet to its production line.
The Lincolnton site, operated since 1960, produces various power tool accessories for products, including saws, drills, and routers.
“It is great news that Bosch has selected to expand its North American manufacturing operations right here in Lincolnton,” Gov. Roy Cooper said. “Our state’s strong rural communities and talented workforce continue to attract businesses and provide opportunities for growth.”
The expansion includes space for new manufacturing, as well as logistics and warehousing to support manufacturing.
A Job Development Investment Grant will help fund the project. It was approved by the State of North Carolina’s Economic Investment Committee earlier Thursday.
Lincoln County also provided local support in the form of tax abatements. In addition, the Customized Training Program, available through the NC Department of Commerce, will provide skill development opportunities through a network of community colleges across the state.
While salaries for the new positions will vary, the average annual salary for the new positions is $53,204, exceeding Lincoln County’s average wage of $49,332. The project’s payroll impact could fuel more than $21.4 million into the community each year.