The decision to expand existing facilities in the southwestern North Carolina mountains was driven by financial incentives, rather than selecting sites in Alabama and Georgia.
The North Carolina Economic Investment Committee, operating under the Department of Commerce, has granted $1.9 million in state incentives to DuoTech Services, a defense contractor. DuoTech Services, known for its expertise in repairing and maintaining military equipment, will be expanding its Macon County facility. The expansion aims to enable the production of electronic components specifically for military aircraft.
The project is set to generate 95 job opportunities within a span of five years. Currently, DuoTech has a workforce of 42 individuals operating in a 35,000 square-foot facility. With aspirations for expansion, the company aims to acquire an additional 50,000 square feet of space, providing employment to new recruits who will receive an average annual wage of $91,200. To support this growth, DuoTech plans to invest $6.5 million in capital.
According to the state, the average wage in the county stands at $42,034.
Huntsville, Alabama, and Atlanta were also taken into consideration.
According to a statement by Brian Ferraioli, chairman of the company’s board of directors, they had several choices to make and, with the backing of Governor Cooper, they concluded that staying and expanding their presence in Macon County was the optimal business decision.
The state incentives package includes a Job Development Investment Grant that offers up to $845,100 over a span of 12 years. This grant is determined by the growth of tax revenues resulting from the creation of new jobs. Payments for the grant are made only after the state has confirmed the achievement of the job creation and investment goals.
The state announced in a press release that the return on investment of public dollars is 234%.
According to Governor Roy Cooper, Duotech’s expansion is further evidence of North Carolina’s status as the most military-friendly state in the nation. He expressed his enthusiasm for the growth of this agile and innovative company, which not only contributes to the defense of our country and its allies but also generates valuable employment opportunities in western North Carolina.