A company that makes filtration equipment for use in various industries will open a factory in the Trivium Corporate Center in Hickory.
Gusmer Enterprises will create at least 73 jobs and invest more than $38 million.
The jobs at the Hickory plant — which include such positions as mechanics, packers and administrative workers — will pay $44,000 a year on average, according to a release from the N.C. Department of Commerce.
The company will be required to create these jobs by the end of 2023.
Gusmer will be the fifth company to locate in the business park being jointly developed by the city of Hickory and Catawba County.
The Hickory City Council and Catawba County Commissioners approved incentives totaling $1.2 million Tuesday afternoon. The incentive in this case will take the form of the discounted sale of around 16 acres of land in the business park.
The company will be able to purchase the land at $20,000 an acre when it was previously marketed at $95,000 per acre, Catawba County Economic Development Corporation President Scott Millar said.
Julie Pruett, director of business recruitment for the development corporation, said the company is looking to be in its building by the end of the year.
The company is also set to receive $300,000 in a conditional grant from a state fund created to support local governments in economic development efforts.
Gusmer will be required to meet its various employment and investment commitments to receive the local and state incentives. This is the company’s third factory.
Gov. Roy Cooper acknowledged the company’s planned location in a tweet Monday, calling it “great news for the Hickory business community.”
Kevin Griffin is the City of Hickory reporter at the Hickory Daily Record.