Columbus McKinnon to Expand Wadesboro Operations
Apr 19, 2018
Anson Economic Development Partnership is pleased to announce that Columbus McKinnon Corporation (NASDAQ:CMCO), a leading designer, manufacturer and marketer of material handling products, technologies and services, will expand operations in Wadesboro, creating 19 jobs. The company plans to invest $5.4 million in its Anson County facilities, enabling the introduction of its STAHL line of crane products into the North American market. The average wage of the new positions will be $49,897, which is above the Anson County average wage of $32,584. Columbus McKinnon, with headquarters in Getzville, New York, enjoys a rich 140-year tradition of excellence providing products and services such as hoists, actuators, cranes, and lifting and rigging tools. Last year, the company completed its acquisition of STAHL CraneSystems, a well-known brand of hoists and crane components based in Germany. The Anson County expansion will position the company to manufacturer STAHL products in North Carolina, introducing the line directly into the North American market. Anson County and the Town of Wadesboro provided Industrial Tax Grants of $135,000 and $92,000, respectively, in support of the project. The Industrial tax Grant program offers new and expanding industries the opportunity to receive back a portion of its paid property taxes on new investment in the form of a grant. Additionally, a performance-based grant of $60,000 from the One North Carolina Fund and a $60,000 Rural Division Building Reuse Grant will help facilitate the expansion. "AnsonEDP was pleased to work with Columbus McKinnon on this expansion, and to facilitate the support of the County Commissioners and Town Council to make it happen here in Wadesboro," said AnsonEDP's executive director, John B. Marek. "This was a very competitive project and the company's confidence in our workforce, resources and business environment is further proof that Anson County can successfully compete and win on a global scale." AnsonEDP wants to thank N.C. Commerce and the Economic Development Partnership of N.C., who were instrumental in supporting the company's expansion decision. Other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, Anson County, the Town of Wadesboro and READY 2020.
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