ROWAN COUNTY, N.C. (News Release) — Eastern Wholesale Fence, LLC, a New York-based fence manufacturing company, will create 142 jobs in Rowan County, North Carolina Governor Roy Cooper announced today. The company will invest $17.5 million to create a manufacturing center of excellence in Salisbury to better fulfill demand for their product.
βThe North Carolina economy continues to grow manufacturing jobs, despite public health and economic challenges,β said Governor Cooper. βThis means companies like Eastern Wholesale Fence choose to expand in our state because of the talented workforce and effective management of the pandemic.β
Founded in 1971, Eastern Wholesale Fence, LLC is an extruder, manufacturer, and distributor of commercial and residential fence products. The companyβs new manufacturing center in North Carolina will and distribute their vinyl, ornamental, chain link, wood, and decorative fencing fabricate materials for the eastern portion of the United States.
βEastern Wholesale Fence, LLC is extremely excited to be expanding into our new Salisbury to better fulfill the needs of our customers,β said Peter Williams Jr, Chief Executive Officer β Eastern Wholesale Fence, LLC. βWe greatly appreciate the support from the State of North Carolina, Rowan County, and the City of Salisbury on this expansion project, and we look forward to being an involved corporate citizen in our new community.β
βAdvanced manufacturers of all kinds find their future in our state because of our talent, location, affordable cost structure and access to high-growth consumer markets,β said Commerce Secretary Anthony M. Copeland. βEastern Wholesale Fence is a leading name in the building-products industry, and we look forward to supporting their long-range business strategy.β
The North Carolina Department of Commerce led the stateβs efforts to support Eastern Wholesale Fenceβs decision to locate to North Carolina. The companyβs 142 new jobs will include engineers, technicians, operators, managers, and administrative support staff. The average annual salary for all new positions is $46,109, creating a potential payroll impact of more than $6.5 million per year. Rowan Countyβs overall average annual wage is $43,883.
Eastern Wholesale Fenceβs expansion will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the stateβs Economic Investment Committee earlier today. Over the course of the 12-year term of the grant, the project is estimated to grow the stateβs economy by more than $288 million. Using a formula that takes into account the new tax revenues generated by the 142 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,078,200 spread over 12 years. Payments for all JDIGs only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grantβs reimbursement payments to a given company.
Because Eastern Wholesale Fence is locating to Rowan County, classified by the stateβs economic tier system as Tier 2, the companyβs JDIG agreement also calls for moving as much as $119,800 into the stateβs Industrial Development Fund β Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 2 county such as Rowan, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state.
