When it rains, it pours: New business and new jobs continue to come to Guilford County at a fast clip.
On Wednesday, April 26, NC Gov. Roy Cooper and High Point Economic Development officials announced that Vecoplan – an international company that manufactures and distributes industrial grinding equipment – will be opening a new US Headquarters and manufacturing facility in High Point.
According to the very pleased economic development leaders, the project will include a nearly $11 million investment and will mean creation of 51 new full-time jobs over a five-year period.
The company plans to occupy the entire 94,000 square foot newly constructed facility at 501 Gallimore Dairy Road in High Point.
This announcement comes on the heels of several other major businesses announcing they are also coming to the county – including a couple of large aeronautics companies at the Piedmont Triad International Airport (PTIA) megasite.
Economic development officials say that one thing both the PTIA site and High Point have in common is a lot of available space – which is a big draw for many companies.
High Point Mayor Jay Wagner said he was delighted with the news.
“High Point is growing significantly in all directions,” he said in the wake of the new announcement. “We welcome Vecoplan to High Point and are excited to have this great company as part of the community for years and decades to come.”
Vecoplan makes machinery that helps dispose of plastics, paper, wood and other waste for customers “who have challenging applications for waste size reduction.”
It uses custom grinding systems, mobile shredding trucks and industrial shredders to convert and recycle materials.
Vecoplan Managing Director and Chief Financial Officer Jeff Queen stated in a press release that an extensive search led to High Point.
“Vecoplan searched nationwide for the perfect location for its US Headquarters.” he said. “High Point came out on top thanks to its available, skilled labor, transportation infrastructure and high quality of life,”
The new positions will be created over the next five years and will include professional positions and production employees with an average annual compensation package of $85,490. Guilford County’s current overall average annual wage is just over $57,000.
Director of High Point Economic Development Corporation Sandy Dunbeck said this announcement once again validates the assets that the City of High Point, Guilford County, the Carolina Core and State of North Carolina offer the Advanced Manufacturing sector.