Vecoplan, LLC, a manufacturer of industrial shredding equipment, will create 33 jobs in Guilford County, Governor Roy Cooper announced today. The company will invest $6.75 million to locate a new manufacturing facility in High Point.
“Global manufacturers want to expand in places with access to a skilled workforce, research infrastructure, and a great quality of life,” said Governor Cooper. “Vecoplan has experienced these benefits with their North Carolina headquarters, and we believe they will find more success in the years to come.”
Vecoplan, LLC opened in North Carolina in 2000 as the North American headquarters for the German-based company that develops innovative secure destruction equipment. Vecoplan manufactures industrial shredding, grinding, and recycling machines for various markets including waste management, wood and plastics, and document shredding. This new advanced manufacturing facility will help meet the increased demand of mobile shredding trucks, waste collection trucks, and other recycling and sorting equipment and components.
“Vecoplan is extremely excited to expand our North American headquarters in the Piedmont Triad Region of North Carolina,” said Jeffrey Queen, Chief Financial Officer. “We have called North Carolina home for more than twenty years and are honored to continue supplying recycling and waste solutions for decades to come."
Although the salaries will vary by position, the overall average annual wage is $84,848, which exceeds Guilford County’s overall average annual wage of $57,190. These new jobs will have a potential annual payroll impact of more than $2.7 million for the region.
“Being recognized as the best state to do business is validated by the companies that reinvest in North Carolina,” said N.C. Commerce Secretary Machelle Baker Sanders. “I am committed to leading our economy toward innovation and being first in talent as we develop the training programs to continue producing the largest advanced manufacturing workforce in the southeastern United States.”
A performance-based grant of $75,000 from the One North Carolina Fund will help with Vecoplan’s expansion in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require matching participation from local governments and any award is contingent upon that condition being met.
“We are excited to welcome Vecoplan to Guilford County,” said N.C. Senator Michael Garrett. “This expansion is a highlight of our transition to an innovative manufacturing economy and our educated workforce is ready to support the company in their next phase of growth.”
“This project is another great addition to the momentum that our region is experiencing,” said N.C. Representative John Faircloth. “We appreciate the diligent economic developers and officials on the state and local levels that continue to bring these great projects to our community.”
In addition to the North Carolina Department of Commerce and Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina General Assembly, North Carolina Community College System, Guilford County, GuilfordWorks, High Point Economic Development Corporation, and the City of High Point.