Incentive for jobs in western NC

Another taxpayer funded incentive deal has been made to draw jobs to North Carolina. BAE Systems Tensylon will receive $127,000 to expand it's manufacturing operation near Monroe. North Carolina will contribute $40,000 taxpayer dollars and the county will chip in nearly $87,000 to try to boost the local economy.

Charlotte Observer
September 9, 2007
Mike Torralba

Manufacturer gets incentive package
BAE Systems Tensylon to receive $127,000

A manufacturer of antiballistic vehicle and body armor will expand its plant outside Monroe in exchange for $127,000 in state and local economic-development incentives.

The company, BAE Systems Tensylon High Performance Materials, is expected to create 42 new jobs and invest $8.7 million over three years, including an 18,000-square-foot expansion of its Piedmont Drive building, according to the Partnership for Progress, Union County's economic development arm.

The average weekly pay for the new jobs will be $714, not including benefits -- higher than the county average of $643, according to Gov. Mike Easley's office.

The state will contribute $40,000 from the One North Carolina Fund to the incentive package. The fund is intended to encourage out-of-state businesses to come to North Carolina and existing companies to expand, creating new jobs.

The county will contribute a grant of nearly $87,000. Original article...