A Canadian automotive manufacturing company plans to acquire Carolina Forge Company in Wilson and add 125 jobs to the 145 positions already at the site.
The deal, with the potential for more than $2.5 million in state and local incentives, was announced this morning by Gov. Pat McCrory and by Linamar.
Linamar Corp., based in Guelph, Ontario, is buying Carolina Forge as part of a broader expansion that includes buying a majority stake in a German auto parts company. The acquisitions will supplement Linamar’s core powertrain business and enhance its production of gears, wheel bearings and other auto parts.
Linamar will add 125 jobs by the end of 2019 and invest $40 million in Wilson County. Carolina Forge’s operations there include forging and light machining of automotive components. The company will retain the current 145 jobs at the site as a condition of qualifying for state and local incentives.
North Carolina is offering nearly $1.3 million in incentives: a One North Carolina Fund grant up to $100,000, training assistance valued at $187,500, and $993,000 in state income tax abatements over 12 years if Linamar meets hiring and investment targets.
Wilson County and the town of Wilson have offered to contribute an “Annual Economic Incentive” for job creation of up to $1 million, plus a $400,000 grant. Those incentives await public hearings and approvals from county and municipal officials.