RATO picks Lincoln Co. for 450-job manufacturing operation
Denver Global Products, acquired by China-based RATO earlier this year, has chosen Lincoln County to locate its manufacturing, distribution and research and development operations, bringing with it 450 jobs over the next four years.
The decision was announced by the office of Gov. Bev Perdue Monday.
As the Times-News previously reported, the county’s Board of Commissioners was set to consider additional incentives for the company at its meeting Monday night.
Despite facing stiff competition from other states, the company, which announced the county as its North American headquarters in February, was lured in part by a Job Development Investment Grant and through the efforts of the N.C. Department of Commerce, N.C. Community Colleges, Lincoln County, Lincoln Economic Development Association and the N.C. Rural Economic Development Center, according to Perdue’s press release.
The state Economic Investment Committee voted Monday to award the grant to Denver Global Products. JDIGs 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.
The company plans to invest $30.2 million in the project. Additionally, while individual wages for the 450 jobs will vary by job function, the average annual payroll for the new jobs will be more than $13.4 million.
“North Carolina continues to be a top choice for companies looking to establish advanced manufacturing as well as research and development facilities,” Gov. Perdue said in a statement. “This proves how important our investment in education and infrastructure is, and that it’s resulting in good jobs for North Carolinians.”
Denver Global concentrates on innovating solutions for consumer products. The manufacturing facility will produce DGP-developed products as well as RATO products. Incorporated in North Carolina in 2010, Denver Global was acquired by Chongqing RATO Power in January. The company currently employs 27 people at its Lincoln County location.
There is no word yet on where the company plans to construct its new Lincoln County manufacturing campus.
“Denver Global greatly appreciates all the support the company has received from Gov. Perdue, the state of North Carolina and Lincoln County,” stated Denver Global Products CEO Roger Leon. “Many of us live in Lincoln County, we started our company in Lincoln County and we are all pleased with the opportunity to continue to grow our business from our base here.”
For more information about Denver Global Products, including job opportunities, visit www.denverglobal.com