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Fiber Composites LLC to expand in Stanly County
Story Date: 12/24/2013
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Source: PRESS RELEASE, 12/23/13
Governor Pat McCrory and North Carolina Commerce Secretary Sharon Decker announced today that Fiber Composites, LLC, doing business as Fiberon, will expand its Stanly County operations. The company plans to create 25 new jobs and invest $3.8 million over the next three years in New London.
“Creating manufacturing jobs across North Carolina has been a priority within my administration’s economic plan. We remain focused on expanding partnerships with existing North Carolina businesses like Fiberon,” said Governor McCrory. “Stanly County and the overall region will benefit greatly from this expansion.”
Fiberon is a manufacturer of composite and PVC decking, railing and fencing products used in homes and light commercial construction across North America. Through extensive product development and leading-edge manufacturing capabilities, Fiberon has created innovative, alternative outdoor living products.
“Governor McCrory and I are working every day to ensure that we’re addressing the needs of our state’s existing manufacturers,” said Secretary Sharon Decker. “Stanly County’s highly-skilled workforce will be great for the future of Fiberon.”
The company, founded in 1997 and privately owned, has operations in North Carolina and Idaho. The New London facility is the North American division headquarters, and the company employs 324 workers in North Carolina.
Salaries will vary by job function, but average annual payroll is estimated to be more than $736,450 plus benefits. The Stanly County average annual wage is $30,546.
“The company is appreciative of the dedication and skill of our local workforce in Stanly County and is happy to be able to expand our operations in New London,” said President Douglas Mancosh. “We are excited to locate our new recycling operation in New London, which will support our growing composite extrusion business.”
The project was made possible in part by a performance-based grant from the One North Carolina Fund of up to $48,000. 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.
“I want to thank Fiber Composites for expanding their operations in New London,” said Representative Justin Burr. “Stanly County is the perfect place to start and grow a business, and Governor McCrory and I are committed to creating new jobs here in Stanly County.”
“I commend the cooperation of Stanly County, New London and Secretary Decker,” said Senator Gene McLaurin. “We're grateful for Fiberon’s decision to expand here and we're looking forward to working with them for many years to come.”
Other partners in the project include: the N.C. Department of Commerce, N.C. Community Colleges, Stanly County Economic Development Commission, Stanly County, Stanly Community College and the Town of New London.
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