RALEIGH – Gov. Bev Perdue today announced that Ellwood Advanced Components LLC, a manufacturer of turbine blades, will expand its operations in Forsyth County. The company plans to create 55 jobs and invest $33 million over the next five years in Rural Hall. The project was made possible in part by an $188,000 grant from the One North Carolina Fund.
“Creating jobs is a top priority of mine,” said Gov. Perdue. “Our highly-skilled workforce and highly-rated business climate have allowed advanced manufacturers to thrive in North Carolina. This announcement bolsters North Carolina’s already fast-growing energy sector.”
Ellwood Advanced Components, a wholly-owned subsidiary of Ellwood Group Inc., is a manufacturer of turbine blades for steam and gas-powered turbines. Ellwood Group, Inc. is a steel manufacturing and forging company with operations in Pennsylvania, Ohio, Texas, Michigan and Canada. Its principal products are used primarily for the power generation, oil and gas, construction, mining and military sectors. Ellwood Advanced Components currently employs 145 people at its Forsyth County facility.
Salaries will vary by job function, but the average annual wage for the new jobs will be $49,028, plus benefits. The Forsyth County average annual wage is $42,588.
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.
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 60,000 jobs and $11 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, Forsyth County and the Winston-Salem Business, Inc.