Jeld-Wen to Open New Headquarters in Charlotte; Create JobsDecember 14th, 2012 by DWM Magazine
North Carolina Governor Bev Perdue announced yesterday that JELD-WEN will locate its new North American Headquarters operations in Charlotte creating at least 142 jobs over the next two years and invest $2 million. The project was made possible in part by a state Job Development Investment Grant.
“We are very pleased to expand in North Carolina and establish our North American headquarters in Charlotte,” says JELD-WEN president Philip Orsino. “The company employs 10,000 people across North America in more than 50 plants and facilities. This expansion in Charlotte is integral to our overall plans for growth.”
JELD-WEN currently has 260 employees in North Carolina at two different manufacturing locations in McDowell and Davidson counties. The company’s global headquarters will remain in Klamath Falls, Ore.
Compensation will vary by job function, but the average annual payroll will be more than $13.4 million, plus benefits, according to a statement released by the Governor’s office.
On the day the news was announced, North Carolina’s Economic Investment Committee voted to award a Job Development Investment Grant (JDIG) to JELD-WEN. JDIGs are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and would not be undertaken in North Carolina without the grant.
“We appreciate Governor Perdue’s supportive policies and her team’s hard work,” adds Orsino. “We have had a presence in North Carolina since 1962 and we look forward to significantly increasing our investment and footprint here.”
Under the terms of the JDIG, the company is eligible to receive a grant equal to 60 percent of the state’s personal income withholding taxes derived from the creation of new jobs for each of the nine years in which the company meets annual performance targets. If JELD-WEN meets the targets called for under the agreement and sustains them for nine years, the JDIG could yield $2.54 million in maximum benefits for the company, according to the statement.