Ontic Engineering and Manufacturing, an aerospace company, will receive $1.3 million in tax incentives.
The company will use the money to expand its facility in Granville County, where it plans to create 126 new jobs and invest millions into the community, Gov. Roy Cooper reported to The Center Square.
The incentives for Ontic will be issued over 12 years as long as the company stays within the state and earns tax revenue, according to The Center Square.
The governor's administration believes the project will grow the economy by approximately $413 million.
The average salary for the new Ontic jobs is $55,149, while the current average wage in the county is $40,932.
Cooper said to The Center Square that the decision for Ontic to expand its facility is confirmation of the state's "great quality of life, excellent business climate and strong manufacturing workforce."
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