SALISBURY — An incentive package that could bring in 148 jobs will be the subject of a public hearing at 8:30 a.m. Monday at a special meeting of the Rowan County Board of Commissioners.
Hitachi Metals of China Grove is considering a joint venture that would call for a $71.6 million investment at its plant off N.C. 152.
The county is considering “relocation and assistance grants” for up to five years, as set forth in Rowan’s investment grant program.
Hitachi is the principal partner in the project.
Its partners are said to be considering other sites in the United States and Asia.
The project could result in $11.8 million a year in direct and indirect salaries, according to an economic impact analysis compiled by Robert Van Geons, executive of RowanWorks Economic Development.
Average pay for the Hitachi jobs would be $17.34 an hour, or about $36,000 a year. Van Geons’ document says that is greater then the current average wage for similar manufacturing jobs in the region ($15.65) and state ($15.56).
The positions would be finishing and coating operators, inspectors, heat treatment operators, casting operators, pressing operators, engineers, supervisors, raw material operators, grinding operators maintenance workers, lab technicians and warehouse associates.
The project schedule calls for $421 million in investment and 92 jobs in 2013. Two years later, it calls for $29.5 million more investment and 56 more jobs.
Over the five years of the proposed Level 2 grant, the county would collect $1,861,848 in tax revenue and give the company incentives of $1,489,478, netting the county $372,370.
Over 10 years, the county would net more than $2.6 million in new revenue
Since the property is in the China Grove city limits, the town would also see its tax base increase and collect more than $3 million in new revenue over 10 years.
Based in Tokyo, Hitachi is a multinational corporation that specializes in high technology, machinery and public infrastructure. Since 1990, the company has operated a plant in Rowan County that produces arc segment magnets for use in motors.
Commissioners meet on the second floor of the J. Newton Cohen Sr. Rowan County Administration Building, located at 130 W. Innes St.