Continental Teves Adding 338 Jobs in Fletcher

Continental Teves, Inc. announced Monday the facility in Fletcher, NC will expand and add 338 new jobs over the next five years.

The brake systems and component manufacturer will invest $30.1 million into the Henderson County plant at One Quality Way.

The Fletcher facility currently employs 288 people. The average wage is expected to be $36,179.

North Carolina Governor Beverly Perdue was scheduled to attend the Monday announcement.

A state grant helped form their decision to expand. Continental Teves, Inc. will be eligible to receive grant equal - to 60 percent - of the state personal income withholding taxes derived from the creation of new jobs for each of nine years in which the company meets annual performance targets.

If the company creates the jobs, makes the investment and pay the wages - called for under the agreement and sustains them for nine years - this could yield as much as $2.16 million in maximum benefits for the company.

News Channel 7 will update this story

Reporting by Carrie Davis

Henderson County Wins 338 Job, $30m Continental Expansion
Largest Manufacturing Job Creation Project in WNC in over 10 years

Hendersonville , NC – Business and government leaders gathered at Continental’s Fletcher manufacturing facility on Monday, July 20, 2009 to announce and celebrate the brake systems and component manufacturer’s expansion. The company will invest over $30 million and add 338 new jobs over the next 5 years.

Mayor of Fletcher, Bill Moore, welcomed attendees to the event and expressed support for Continental’s project. He said, “The Town of Fletcher places priority on retaining and growing our advanced manufacturing base. We are proud to have been an active participant in Continental’s decision to locate this investment and job creation project.”

Mayor Moore introduced Governor Beverly Perdue who detailed North Carolina ’s commitment to the automotive industry and awarded the Job Development Investment Grant (JDIG). Under the terms of the JDIG, the company is eligible to receive a grant equal to 60 percent of the state personal income withholding taxes derived from the creation of new jobs for each of 9 years. Governor Perdue said, “Established companies continue to grow here because they know the value of our top business climate, skilled workforce and tremendous quality of life.”

Continental representative Heinz Zengel and plant manager Bobby Nelon addressed the group and approximately 200 employees. Nelon said, “The employees in the Henderson facility today make a strong foundation for growing this plant. This is a great example of government and business working together to secure jobs in North Carolina . I strongly believe that the outstanding employees of this plant will continue to compete with any automotive plant in the world, in terms of cost, quality and productivity.” The 338 new jobs created by Continental will average $36,179 in overall wages, not including benefits.

Bill Moyer, Chair of the Henderson County Board of Commissioners noted the day as an opportunity to celebrate 7 months of work to locate the project in Henderson County . Moyer placed the announcement in context, stating, “This project is significant because it is the largest manufacturing job creation project in western North Carolina in over a decade, and one of the largest in Henderson County ever.” Moyer thanked Continental’s management for their decision, and thanked current employees for positioning the facility for this growth opportunity.

The Henderson County Partnership for Economic Development, Inc. is a 501(c)(6) organization that works to: retain and attract quality jobs; solicit new business compatible with the assets and values of Henderson County ; promote Henderson County ’s business image; assist expansion of existing companies; and enhance Henderson County ’s overall quality of life. For more information on the Partnership visit www.strategiclocation.com.

Continental Teves to Add 338 Jobs in Fletcher

State Grant Helps Henderson County Company Expand

RALEIGH – Gov. Bev Perdue today announced brake systems and components manufacturer Continental Teves will expand its operations in Henderson County. The company, a wholly owned subsidiary of global automotive supplier Continental, plans to invest $30.1 million and create 338 jobs in Fletcher during the next five years.

“North Carolina ranks 10th nationally in automotive-related jobs thanks to the commitment of such international leaders as Continental and its subsidiary in our state,” Gov. Perdue said. “Established companies continue to grow here because they know the value of our top business climate and skilled workforce.”

Continental has its North American headquarters in Michigan and operates two facilities in North Carolina. The Fletcher manufacturing plant currently employs 288 workers, while a plant in Morganton has 367 employees. The overall average wage for the 338 new jobs in Fletcher is expected to be $36,179, not counting benefits, which is higher than the Henderson County average of $31, 252.

Continental Teves is part of German giant Continental AG, often referred to by the nickname “Conti.” N.C. Department of Commerce Secretary Keith Crisco met with Conti officials during a visit to Germany as part of the department’s European economic trip in June. Fletcher plant manager Bobby Nelon also attended that meeting.

Nelon said there were several factors that led Continental to choose Fletcher as the best place to expand. “The employees in the Henderson facility today make a strong foundation for growing the plant,” Nelon said. “The incentive package also was a major determining factor in selecting the Henderson plant for the expansion. This is a great situation of government and business working together to secure jobs in North Carolina.”

The state Economic Investment Committee met this morning to award a Job Development Investment Grant to Continental Teves to facilitate this expansion.

Under the terms of the JDIG, the company is eligible to receive a grant equal to 60 percent of the state personal income withholding taxes derived from the creation of new jobs for each of nine years in which the company meets annual performance targets. If the company creates the jobs, makes the investment and pay the wages called for under the agreement and sustains them for nine years, the JDIG could yield as much as $2.16 million in maximum benefits for Continental Teves.

In addition, up to $718,500 could be added to the state’s Industrial Development Fund for infrastructure improvements in economically distressed counties. When a JDIG is awarded to one of the state’s more economically prosperous counties such as Henderson, 25 percent of the grant award is allocated to the Industrial Development Fund to encourage economic development in less prosperous counties.

Job Development Investment Grants are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant. Since the first grant was awarded in 2003, the program has been responsible for creating commitments for more than 30,000 jobs and $6 billion in investment in North Carolina.

North Carolina continues to have a top ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state will work aggressively to create jobs, train and retrain our workforce, and lay the foundation for a strong and sustainable economic future.

Other partners that assisted with this announcement include: the N.C. Department of Commerce, Henderson County, the Town of Fletcher, Blue Ridge Community College and the Henderson County Partnership for Economic Development.

For more information about Continental Teves or Continental, visit www.conti-online.com. For information about employment opportunities at the Fletcher manufacturing plant, call the Henderson County office of the N.C. Employment Security Commission at (828) 693-1703.
They are already hiring for five positions ncluding technical jobs, finance, maintenance and machine operators. Click here for a link to their website.