SNOW HILL — A global electronics manufacturer that uses high tech equipment to make circuit boards is expanding its operations in Snow Hill and adding 70 new jobs, state and local officials announced.
Precision Graphics plans to invest 5.1 million dollars to open an electronics manufacturing and fulfillment facility, officials said during a news conference on Tuesday. Once the new jobs are in place, the area will benefit from more than a 2.9 million dollar payroll impact each year.
The area’s proximity to the Global TranPark, job training available from area college programs and incentives from the state were among draws for the company, officials said.
“Companies like Precision Graphics appreciate North Carolina’s firm commitment to education and the workforce training systems that support industries in our state,” Gov. Roy Cooper said in a release issued along with Tuesday news conference.
With headquarters in Somerville, New Jersey, the third-generation, family-owned manufacturer has more than 50 years experience, officials said. It serves customers in robotics, industrial, automotive, telecommunications, aerospace and medical fields. The facility in Snow Hill will compliment existing facilities in Taoyuan, Taiwan, and New Jersey to meet growing demand.
“When Precision Graphics made the decision to begin our strategic facility expansion, we quickly realized a partnership with the state of North Carolina offered exactly what we had envisioned to continue to expand our business, in terms of a great facility, strong workforce, and business friendly environment,” said Alec Weissman, CEO and third generation owner.
Although wages will vary, the average annual salary for the new positions reaches $41,443, which tops the Greene County average wage of $32,853. Once the project’s new jobs are in place, the local region will benefit from a more than $2.9 million payroll, officials said.
A performance-based grant of $150,000 from the One North Carolina Fund will help facilitate the expansion. The OneNC 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.
Mark Pope, senior vice president of the Global TransPark, was among officials who gathered in Snow Hill. He praised the efforts of a regional economic development partnership that includes Greene, Lenoir and Wayne counties in recruiting the company.
“We started this partnership between the counties and the GTP in November of last year … this region was established to unite the efforts of three counties and the GTP to promote economic development, create jobs, (and) bring capital investment to our area more faithfully.”
Jordan Whichard, chief deputy secretary of the N.C. Department of Commerce, said the announcement was not only important for Snow Hill and Greene County but all of North Carolina.
“Precision Graphics’ decision today is an easy one to see. But in case the location and the infrastructure and the high quality of life weren’t enough, it’s really North Carolina’s skilled workforce that consistently attracts new industries to our state.”
He said that North Carolina has the largest manufacturing workforce in the southeastern United States and provides companies with necessary talent for growth.
“We’re so glad Precision Graphics has chosen Greene County and chosen Snow Hill for this important expansion of their company,” Whichard said.
In addition to the $150,000 One Fund grant, the state community college system is contributing with a robust investment in customized workforce training, Whichard said.
Weissman said his business in comprised of 10 multi-generational families working together. “What I love about my job (is) it’s really a family business, and it’s not just my family; it’s the Precision Graphics family,” he said.
“My family looks forward to making North Carolina part of our home and continuing the next 50 years of business here,” he said.