will build a nearly $6.2 million plant and hire 102 people for the manufacture of heavy-duty truck suspension springs in Mount Olive.
The state awarded the company, which is part of Triangle Suspension Systems, a $100,000 One North Carolina Fund grant as an incentive.
Triangle Spring, which is based in Pennsylvania, plans to create the jobs over the next three years. The company is part of Marmon Highway Technologies, a business unit of billionaire Warren Buffett’s Berkshire Hathaway company.
Average wages will be $30,196, not including benefits.
“North Carolina ranked first or second in 10 out of 11 categories we evaluated in six states. The incentive package was a very important consideration as well as suitable buildings and the support of the local community with identification, selection and training of qualified skilled employees,” said John Howard, president of Triangle Suspension Systems, in a statement. “Our business is a capital-intensive business and we must rely upon our employees to skillfully maintain and operate this equipment to ensure an efficient operation at start-up as well as many years down the road. We are pleased to have found a home in North Carolina where we can grow this new segment of our business.”
A One North Carolina Fund grant requires a local match.