State helps bring colorant company to Liberty

December 13, 2010

ASHEBORO — N.C. Gov. Bev Perdue announced Monday that the state will contribute $225,000 in the form of a grant from the One North Carolina Fund to bring Americhem to Liberty.

Americhem, a global provider of custom color and additive solutions for the polymer industry, will locate a new manufacturing facility in Randolph County. The company plans to create 71 jobs and invest $22.6 million during the next three years in Liberty.

“Manufacturers from around the world are coming to North Carolina.  They see the immeasurable value of our skilled workforce, custom-training programs and top-rated business climate,” said Perdue in a press release. “Not only will Americhem’s new campus in Randolph County create needed jobs, it also has the potential for future growth.”

On Nov. 29, Randolph County Commissioners and the City of Liberty Town Board unanimously voted to provide a combined $515,000 in economic incentives to Americhem over the next three years. Americhem is interested in moving into Liberty Business Park.

Under the proposed agreement, Liberty will provide $257,500 in economic incentives and the county will provide $257,000. The funding will be paid in no less than eight annual installments contingent on the company meeting job creation and investment performance requirements.

This was the third economic incentive deal approved by Randolph County in November.

On Nov. 16, commissioners voted to provide a total of $80,000 to assist FPE NC LLC with costs associated with its expansion into the former Moll Industries building in Seagrove. That project is expected to bring 96 jobs to the county over the next three years.

On the same day in conjunction with the City of Asheboro, the county agreed to support an expansion of the Malt-O-Meal facility on Banks Street.

Asheboro and the county will provide $3,160,000, half from the city and half from the county, over an eight-year period. Malt-O-Meal plans to eventually create 80 new jobs at the Asheboro plant.

Americhem will establish a campus site at the Liberty Business Park in Liberty to enable it to grow its North American business. Founded in 1941, Americhem is one of the world’s largest custom color and additive concentrate manufacturers. Based in Ohio, the company operates six manufacturing facilities on three continents, employing over 500 people worldwide, including 127 in Cabarrus County.

Salaries will vary by job function, but the average annual wage for the new jobs will be $35,437 not including benefits.  The Randolph County average annual wage is $29,172.

“Americhem is excited about our newest facilities to be located in Liberty,” said Rick Juve, Americhem CEO. “The addition of this manufacturing capacity to our global network will allow us to provide additional concentrates and specialty compounds to our growing customer base. We appreciate the assistance of Gov. Perdue and Sec. (Keith) Crisco in making our plans a reality and we’re looking forward to expanding our presence in North Carolina.”

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.

For more information about Americhem, including job opportunities, go to Americhem.

Source: [readon1 url=""] Source: Courier Tribune[/readon1]