Valdese Weavers will expand its manufacturing facilities in Burke County, N.C., creating 61 jobs and investing $19.3 million over the next three years. The state of North Carolina offered a $130,000 One North Carolina Fund grant.
Valdese Weavers, a wholly owned subsidiary of CV Industries of Hickory, is an international supplier of jacquard and multipurpose textiles for various residential and contract markets. The company, which has operated in North Carolina for 72 years, currently employs 621 associates at two facilities in Valdese. This expansion calls for the purchase of a 198,000-square foot facility to increase the company's production capacity.
While wages for new jobs will vary by job function, the average weekly wage of the new jobs will be $532 plus benefits, which is greater than the county wage standard of $503 per week.
“After a very deliberate evaluation of opportunities to either expand globally or to other areas domestically, we have chosen to make this commitment to grow our business in Valdese, where we have been located since 1935," said Michael Shelton, president and CEO of Valdese Weavers.
The One North Carolina Fund assists the state in industry recruitment and expansion by providing financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state. One North Carolina Fund grants require, and are contingent upon, a local match.
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