will create 275 new jobs at a facility to be built in Davidson County.
The company will receive a $200,000 grant from the One North Carolina Fund. Such grants require a local match.
The state also awarded TIMCO a Job Development Investment Grant that will be worth up to nearly $1.8 million if job creation targets are met. A JDIG is based on a rebate of state personal income withholding taxes.
The plant will be used for the manufacturing of airline passenger seats.
TIMCO business development Vice President Leonard Kazmerski had said earlier Tuesday that the company and Gov. Bev Perdue planned a jobs announcement in Davidson County. He declined to give details.
Davidson County Economic Development Commission executive director Steve Googe also declined to discuss Tuesday’s announcement. Googe said earlier a company planned to create 500 jobs within seven years with expansion into an empty electronics plant near High Point.
TIMCO said in June it was scouting sites in North Carolina and other states to expand a division that makes seats for commercial and military aircraft.
On Monday, two local governments disclosed that they are thinking about committing $1.5 million to lure a company offering to create 500 jobs near High Point.
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