Company to invest $5.1 million in Snow Hill
Precision Graphics, Inc., a leading global contract electronics manufacturing solutions provider, will open a new production facility in Greene County, creating 70 jobs, Governor Roy Cooper announced today. The company will invest $5.1 million in Snow Hill to open a new electronics manufacturing and fulfillment facility.
“It’s great that another manufacturing company has selected rural North Carolina as the best place to grow their business,” said Governor Cooper. “Companies like Precision Graphics appreciate North Carolina’s firm commitment to education and the workforce training systems that support industries in our state.”
Precision Graphics, with headquarters in Somerville, New Jersey, is a third-generation, family-owned electronics manufacturing solutions provider, with more than 50 years of world class electronics manufacturing experience. The company serves customers in many industry sectors, including robotics, industrial, automotive, telecommunications, aerospace, and medical. The company’s new manufacturing facility in Snow Hill will compliment Precision Graphic’s existing facilities in Taoyuan, Taiwan, and Somerville, New Jersey. This expansion increases the ability of Precision Graphics to continue to meet its customers’ growing demand for manufacturing and fulfillment solutions.
“When Precision Graphics made the decision to begin our strategic facility expansion, we quickly realized a partnership with the state of North Carolina offered exactly what we had envisioned to continue to expand our business, in terms of a great facility, strong workforce, and business friendly environment,” said Alec Weissman, CEO and 3rd Generation Owner, Precision Graphics. “Our customers have trusted us with their electronics manufacturing for 50 years, and we look forward to continuing to grow our business for the next 50 years here in Snow Hill.”
“Rural North Carolina offers companies an outstanding value proposition,” said North Carolina Commerce Secretary Machelle Baker Sanders. “As our First in Talent strategic plan makes clear, North Carolina will continue to invest in training programs and other workforce development initiatives, so companies will continue to recognize North Carolina as a vibrant location to do business.”
Although wages will vary depending on the particular position, the average annual salary for the new positions reaches $41,443, which tops the Greene County average wage of $32,853. Once the project’s new jobs are in place, the local region will benefit from a more than $2.9 million payroll impact in the community, each and every year.
A performance-based grant of $150,000 from the One North Carolina Fund will help facilitate Precision Graphics’ expansion in Greene County. The OneNC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All OneNC grants require a matching grant from local governments and any award is contingent upon that condition being met.
“This is exciting news for the people of Greene County and the Snow Hill community,” said N.C. Representative John Bell. “Precision Graphics will be a great new partner for the community and bring new jobs and investment to our region. I want to thank everyone involved who helped make this important day happen.”
“Many community and economic development organizations collaborated closely to support Precision Graphics throughout their site selection process,” said N.C. Senator Don Davis. “We will continue to work together at the state, regional, and local levels to support this company’s leaders and workers as they make North Carolina their new home.”
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, Duke Energy, Lenoir Community College, Greene County, the Town of Snow Hill and the North Carolina Global TransPark Economic Development Region.