Technimark gets backing
May 3, 2011
ASHEBORO — City and county officials voted unanimously Tuesday to help Technimark expand its presence in Randolph County.
Members of the Randolph County Board of Commissioners and the Asheboro City Council voted to contribute a total of $30,000 each to assist the company with costs associated with an expansion project that would allow the company to bring its research, development and design services to its Asheboro headquarters.
If the project is realized, development will take place over four years.
The project would mean the creation of 30 new high-tech jobs paying an average wage of $60,625 annually and an investment of $20 million in equipment and technology.
“This is a positive thing for Randolph County,” Commissioner Darrell Frye said.
“It’s a sign of a turnaround. The psychological benefit (of the expansion) is a very big positive.”
Technimark is headquartered in north Asheboro at 180 Commerce Place. It is a private company with 10 global operations in Asheboro, Mexico, Germany and China, according to information provided by Bonnie Renfro, Randolph County Economic Development Corp. president.
The company is one of the 25 largest plastics injection molders in the U.S. and operates two divisions, packaging and manufacturing.
The company’s core services are plastic injection molding, sub-assembly and decoration. Those are supported by a technology/RD group that has 25 team members involved in the project development, industrial design, engineering and tool building.
Some of Technimark’s customers include Wal-Mart, Proctor & Gamble, Estee Lauder and Black & Decker.
“The Randolph County EDC sees this request as an investment rather than an expense,” Renfro said.
Technimark already employs 639 people and owns or leases 600,000 square feet of industrial space in Asheboro.
Renfro said, if the project develops as planned, it will mean additional jobs beyond the 30 high-tech positions covered by this grant.
Source: The Courier Tribune