RALEIGH, N.C. (WECT) – Precision Swiss Products, a California-based precision manufacturing firm, will build a new headquarters in southeastern North Carolina and create 125 new jobs as part of a $9.3 million relocation project.
According to a news release from Governor Roy Cooper’s Office, the company will move its headquarters and manufacturing facility to the International Logistics Park, an 1,100-acre site located off U.S. 74.76, that is shared by both Brunswick and Columbus counties.
“We are excited to have another innovative company choose North Carolina for its headquarters,” said Cooper. “With our premier quality of life, convenient location and most importantly, our diverse and highly-skilled workforce in Brunswick County, Precision Swiss Products has made a great decision to join our business community.”
“They looked at North Carolina, South Carolina, Georgia, I believe Nevada and also Florida,” said executive director of Brunswick BID Bill Early. “They narrowed it down to North Carolina and South Carolina and we’re very happy they found Brunswick County to be the best location for them.”
Precision Swiss Products is a major producer of small, high precision parts for the aerospace, medical device and semiconductor industries. Made of microscopic metal and plastic, the company’s parts are used in heart valves, implantables, braking systems, throttles, and chamber components. The company will use the latest technology and robotics to manufacture its innovative parts in a state-of-the-art manufacturing facility to be built in the International Logistics Park.
“We are excited to be moving our headquarters and significantly expanding our manufacturing footprint in North Carolina,” said Norbert Kozar, CEO of Precision Swiss Products. “We look forward to a long and mutually beneficial partnership with the State of North Carolina and Brunswick County working together to create these highly skilled jobs and look forward to working with the local colleges in providing training for future jobs as we grow our business.”
The new jobs, which will be created between 2022-2026, will employ highly skilled machinists, shipping and receiving workers, quality control personnel, executive and administrative staff. The average annual salary for all new positions is $54,025, creating an annual payroll impact of more than $6.7 million per year.
“They may begin hiring some key people between now and October,” said Early. “They have ordered some equipment from overseas that actually is going to be shipped here instead of the west coast. They expect to be operational by early January.”
Brunswick County’s overall average annual wage is $40,184 and Columbus County’s annual wage is $35,138.
Construction on the facility Precision Swiss Products will inhabit is already underway and is expected to be completed in October. The company hopes to be operational by early January.
Precision Swiss Products can earn approximately $1.8 million in state and local tax incentives over a 10-year period. Early expects this news to attract more industrial manufacturers to Brunswick County, meaning additional tax revenue for the county and potentially higher-paying jobs for residents.
“I’ve thought since I’ve lived here the last 3.5 years that once we could get something up or started on one of these mega sites, it would be the catalyst to begin a long-term future development,” said Early.
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