Gov. Bev Perdue today announced that Morganton Pressure Vessels LLC, a manufacturer of air pressure vessels and oil separators, filters and containers for absorption dryers, is expanding in McDowell County. During the next three years, the company plans to create 43 jobs and invest $2 million, including lease payments. The announcement was made possible in part by a $129,000 One North Carolina Fund grant.
“North Carolina supports growth and new opportunities in our manufacturing sector,” said Gov. Perdue. “Our state continues to see companies expand because of our excellent business climate, our highly skilled workforce, and exceptional quality of life.”
Morganton Pressure Vessels LLC is a wholly owned subsidiary of the Baglioni Group, which is based in Italy and serves clients throughout the world. The company, which currently employs 23 workers, manufactures and assembles air pressure vessels and components.
Morganton Pressure Vessels will expand from its current location in Burke County to a larger Marion building in McDowell County. The company’s need for a larger, specialized facility, unavailable in Burke County, led to the move. The 43 new jobs will pay an average annual wage of $28,105, not including benefits. That is higher than the McDowell average of $27,976.
“Morganton Pressure Vessels LLC is very excited about the opportunity to expand its current operations from Burke to McDowell County while keeping jobs in North Carolina. The cooperation between the state, Marion and McDowell County has been top rate,” company Vice President Brad Lind said. “The programs offered to MPV will allow for future job growth and employment. MPV has been awarded a large supply agreement with a new customer, which will allow for steady growth and technologies to be capitalized in North Carolina while growing the customer base for MPV.”
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.
“During these tough economic times, it’s important to make the critical investments to create jobs and allow companies to expand in North Carolina,” said Sen. Joe Sam Queen.
Through use of the One NC Fund, more than 35,000 jobs and $6.5 billion in investment have been created since 2001. Other project partners include: the N.C. Department of Commerce, McDowell County, McDowell Economic Development Association and McDowell Technical Community College.
For more information about Morganton Pressure Vessels, visit the company profile at: www.baglionispa.com. For information about employment opportunities, e-mail: angela.lovett@morgantonpv.com.