Ideal Fastener Corp. plans to expand its Granville County facility, where it produces zippers, adding 155 jobs over the next five years.
Gov. Pat McCrory’s office announced the expansion Tuesday morning. The privately-held company plans to invest more than $5.7 million in its plant in Oxford, about 45 miles north of Raleigh, where it already employs 226 people. The company chose Oxford over sites in China, India and Indonesia.
Ideal Fastener is eligible to receive $1.3 million in benefits over the next 12 years from the state if it meets hiring and investment targets. The average annual wage for the new jobs will be $35,200, just below the Granville County average of $35,592.
“This expansion in Oxford will enable Ideal Fastener to manufacture a zipper using new technology that its customers will be able to apply to their products,” said North Carolina Commerce Secretary Sharon Decker in a statement.
Ideal Fastener, established in New York City, has been operating in North Carolina for 45 years and is the second-largest zipper manufacturer in the world.