EXISTING INDUSTRY

The EDPNC’s Existing Industry and Expansions team noted that 2023 was a year of transition, as companies in North Carolina settled back into a more normal, pre-pandemic atmosphere, and business and the supply chain came back to an equilibrium. The Existing Industry and Expansions team’s eight managers assisted these companies in reaching that equilibrium, offering supply chain contacts, manufacturing and process improvement, and workforce development resources. 

HIGHLIGHT: BOSCH

Bosch, a leading global supplier of technology and services, was one of the companies the Existing Industry and Expansions team assisted last year. In June of 2023, the company announced it will invest $109 million to expand its power tools manufacturing facility in Lincolnton, creating 404 new jobs in Lincoln County. For over a year, the Existing Industry and Expansions team worked closely with the North Carolina Department of Commerce to provide Bosch with incentive comparisons and support for workforce development requirements. Bosch cites its current operations, access to a world-class workforce, proximity to critical infrastructures and local support as factors in its decision to expand in North Carolina. 

Bosch has been in Lincolnton for 47 years and this expansion will nearly double its current workforce there. The Lincolnton expansion will support manufacturing of power tool accessories for products including saws, drills, and routers in a new 325,000-square-foot building for manufacturing, logistics, and warehouse operations. 

Photo Credit: Robert Bosch, LLC.