Magneti Marelli Powertrain USA LLC has announced plans to expand its Lee County, NC manufacturing plant located in the City of Sanford.
Supported by a North Carolina economic development grant, the company will make a capital investment of $12 million over the next two years and expects to create 76 new jobs over the next three years.
In a release announcing the project, Governor Pat McCrory said that global firms like Magneti Marelli find that nothing compares to the can-do spirit of North Carolina workers. “All the ingredients they need are right here, allowing companies to reach new heights,” added Gov. McCrory.
In order to secure the project, NC Commerce and the Economic Development Partnership of North Carolina (EDPNC) worked in partnership with the Sanford Area Growth Alliance, Lee County, the City of Sanford, the NC Department of Revenue, the North Carolina Community College System, and Central Carolina Community College.
North Carolina has offered the company a performance-based grant of up to $225,000 under the One North Carolina Fund. The One NC Fund, which provides economic development funding for projects through local governments, is designed to attract business projects that will stimulate economic activity and create new jobs in the state. Companies do not receive any money up front, and are required to meet job creation and investment performance standards to qualify for grant funds.
NC Commerce Secretary John E. Skvarla III added that they welcome this additional investment from Magneti Marelli. “The company operates 89 manufacturing facilities throughout the world, so I’m gratified they recognize the value of their North Carolina operations,” said Sec. Skvarla.
The Sanford powertrain plant opened in 1976, and primarily manufactures fuel systems for cars, and also for motorcycles and other motor sport vehicles. This latest $12 million expansion with 76 new jobs builds on a $15 million investment the company made four years to add three new production lines and new high-tech machinery to the Sanford plant, along with 65 new jobs.
Magneti Marelli Powertrain, which designs, develops and manufactures engines and transmissions components for cars, motorbikes and light vehicles, is part of Corbetta, Italy-based Magneti Marelli S.p.A. The company’s North American headquarters is located in Auburn Hills, MI.
The Group has a presence in 19 countries, and supplies most of the important car makers in Europe, Asia, and South and North America. With more than 38,000 employees, their global operations encompass 89 production units, 12 R&D centers and 26 application centers.