Wire and Cable Manufacturer Selects Nash County, N.C.

Draka Elevator Products, a manufacturer and reseller of products for the elevator market, will expand its operations in Rocky Mount

12/13/2012

[North Carolina Office of the Governor]

RALEIGH – Gov. Bev Perdue today announced that Draka Elevator Products, a manufacturer and reseller of products for the elevator market, will expand its operations in Nash County. The company plans to create 67 jobs and invest more than $3.1 million over the next three years. The project was made possible in part by a $100,000 grant from the One North Carolina Fund.

“My first priority is creating jobs,” said Gov. Perdue. “Our customized job training programs and skilled workforce have created a strong business climate that allows manufacturers to thrive in a global economy.”

Draka Elevator Products, headquartered in Rocky Mount, manufactures, sells and services products to the elevator market with a market footprint in North America, Brazil, Europe and China.  Draka Elevator is part of a group of companies operating under the Italian-based Prysmian Group. As a part of the expansion, the Rocky Mount facility will begin producing specialized cables for cellular communication towers. Draka Elevator currently employs more than 130 people in North Carolina.

Salaries will vary by job function, but the average annual wage for the new jobs will be $44,164, plus benefits. The Nash County average annual wage is $34,112.

“Draka is extremely appreciative in this investment in the growth of our business and we are proud to receive this grant enabling us to create additional jobs here in Rocky Mount,” said Sterrett Lloyd, president of Draka Elevator Products.

The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.

“I’m pleased Draka Elevator Products is expanding in Nash County,” said Rep. Jeff Collins of Rocky Mount. “With our skilled workforce, I know the company will continue to thrive here.”

“This is great news for Nash County,” said Sen. Buck Newton, who represents Nash and Wilson counties. This is a perfect example of our business-friendly climate and workforce development investments paying off.”

North Carolina continues to have a top-ranked business climate. Through Gov. Perdue’s JobsNOW initiative, the state works aggressively to create jobs, train and retrain its workforce, and lay the foundation for a strong and sustainable economic future.

Through use of the One NC Fund, more than 65,000 jobs and $12 billion in investments have been created since 2001. Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Nash County, Carolinas Gateway Partnership and the N.C. Rural Economic Development Center.

Sign up for ThriveNC's industry announcement alerts: SUBSCRIBE
Sign up for ThriveNC's weekly e-newsletters: SUBSCRIBE

Related news:
Automotive Component Manufacturer Chooses N.C. for Expansion
After Great First Year, Linamar Announces Expansion in North Carolina
GKN Driveline to Strengthen Customer Base by Investing in North Carolina

Related links:
Foreign Direct Investment in North Carolina
Workforce in North Carolina

Quality of Life in North Carolina
Quick Facts About North Carolina