Ideal Fastener Corporation is expanding its Oxford, North Carolina, facility, according to North Carolina Gov. Pat McCrory.
Ideal Fastener is the second-largest zipper manufacturer in the world, according to the governor's statement. The company designs and manufacturers zippers, and employs more than 3,500 workers in six facilities located in four different countries. The business's sales offices are spread out in more than 18 countries.
Ideal Fastener's Oxford facility currently has 226 workers. The company anticipates hiring 155 new employees by the end of 2019.
The Oxford expansion will bring a new Ideal Fastener product to North Carolina.
"This expansion in Oxford will enable Ideal Fastener to manufacture a zipper using new technology that its customers will be able to apply to their products," said North Carolina Secretary Sharon Decker. "To have this new product made by North Carolina workers is further evidence of the quality workforce we have to offer employers."
Ideal Fastener received a financial award from the Job Development Investment Grant (JDIG) program. The company will be given 12 annual grants that are equal to 62 percent of the personal income tax withholdings from the new jobs the business created, after it meets certain job creation and other performance criteria. Over the next 12 years, the incentive could be worth up to $1.3 million if all 155 anticipated jobs are created.
More jobs through Sealed Air Corporation
North Carolina has more job creation news from Sealed Air Corporation, which is expanding operations and moving its global headquarters to Mecklenburg County, North Carolina.
Sealed Air is a Fortune 500 company with annual revenue reaching $7.7 billion in 2013. The company is moving its headquarters from Elmwood Park, New Jersey, to Charlotte, North Carolina. The business also has two production facilities and multiple sales offices throughout North Carolina.
The company anticipates it will hire 1,262 new workers by the end of 2017.
Sealed Air also received a JDIG program award. It will receive 12 annual grants equal to 55 percent of the personal income tax withholdings for the new jobs the company creates. Over the next 12 years, the incentive could be worth up to $36.7 million.
Businesses in North Carolina should work with manufacturing recruiters to find the most qualified candidates for their open positions.