Gov. Bev Perdue today announced that Reich LLC, a leading manufacturer of precision vehicle parts will locate a new production facility in Buncombe County. As part of a $175,000 grant from the One North Carolina Fund, Reich plans to create 56 jobs over three years, while investing $28 million. The company plans to create 79 jobs and invest $33 million over a 5-year period.
“North Carolina continues to earn top rankings for its business climate from experts at places like Forbes and CNBC,” Perdue said. “But it’s announcements like today’s terrific news from Reich and other global manufacturers that prove we are following the right strategy to lift our state out of recession and into recovery.”
Reich is an international supplier of vehicle parts and special ball bearings. They produce gears and gear parts for transmissions, fuel injection system parts, and other precision parts for cars and trucks. They also produce special ball bearings for use in power drills and office furniture. The company is a wholly owned subsidiary of Reich GmbH, headquartered in Mellrichstadt, Germany. The Buncombe County plant will be the company’s second manufacturing facility.
Salaries will vary by job function, but the average annual wage for the new jobs will be $32,435 not including benefits. The Buncombe County average annual wage is $32,968.
“Reich GmbH is very excited to expand its operations to the United States with the establishment of Reich, LLC in North Carolina”, says Christian Helfricht, General Manager of Reich LLC. “The Asheville area is centered among many of the top U.S. automotive suppliers, and North Carolina’s commitment to a strong business climate and job growth makes this state the best choice to locate our new facility. We would like to thank Gov. Perdue, the North Carolina Department of Commerce, the Asheville Area Chamber of Commerce and AdvantageWest Economic Development Group, who introduced us to the Western North Carolina area and the wonderful people that have helped us to make the decision to choose Asheville for our US location. We look forward to a very long and mutually rewarding relationship with the Western North Carolina community and the State of North Carolina.”
The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
“These jobs are good news for Buncombe County,” said Sen. Martin Nesbitt, of Buncombe County, “and in this tough economic time, we all need good news for our people that are looking for work and for our companies that are making investments.”
“North Carolina is leading the nation into recovery with some of the highest job growth numbers and personal income growth figures in the nation,” said Rep. Jane Whilden, of Buncombe County. “It’s because companies like Reich have seen that our policies are focused on building an economic environment for the future, not just trying to patch together a short-term fix.”
North Carolina continues to have a top-ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.
Through use of the One NC Fund, more than 45,000 jobs and $8 billion in investment have been created since 2001. Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Buncombe County, the Asheville Area Chamber of Commerce, the Economic Development Coalition for Asheville-Buncombe County and AdvantageWest Economic Development Group.
For more information about Reich, including job opportunities, go to www.reich-gmbh.com/1-1-Home.html