STATE: Drywall manufacturer to expand with $5M investment
Published 11:50 am Wednesday, October 14, 2020
Hamilton Drywall Products, a manufacturer of drywall finishing products, will create 34 new jobs in Union County, Gov. Roy Cooper announced Wednesday. The company will invest $5 million to locate a regional headquarters and production facility in Monroe.
“Even during a pandemic, another manufacturer is choosing to expand their operations in North Carolina. Companies like Hamilton Drywall are confident in our workforce and our ability to manage the crisis, making our state a great partner for businesses that are growing,” said Cooper.
Hamilton Drywall Products manufactures a varied collection of compounds, textures, and metal trims that are distributed through dealers and national retailers. From installation to finish, professional contractors and DIYers choose the company’s innovative formulas and products to meet the needs of their interior finishing projects. Hamilton Drywall Products will expand to a 98,000-square-foot manufacturing facility which will serve the company’s growing customer base in the eastern United States.
“We look forward to establishing a permanent base of operations in North Carolina and having a positive impact on the Monroe community,” said Mark Hamilton, general manager of Hamilton Drywall Products. “We are thankful for the state and local support for this project and are excited to invest not only in future growth, but also in the people of Union County.”
“North Carolina’s convenient proximity to lucrative consumer markets helps connect companies like Hamilton Drywall to their strategic goals,” said North Carolina Commerce Secretary Anthony M. Copeland. “Congratulations to the company and its employees on the success that has led to this significant expansion.”
The North Carolina Department of Commerce led a team of partners in supporting Hamilton Drywall’s decision to expand in North Carolina. Salaries for the operations and management staff will vary, but the average annual salary for all new positions could reach up to $45,059 creating a payroll impact of more than $1.5 million per year. Union County’s overall average annual wage is $44,989.
A performance-based grant of $50,000 from the One North Carolina Fund will help facilitate Hamilton Drywall Product’s relocation. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.
In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina Community College System, Union County Board of Commissioners, Monroe City Council, Monroe-Union Economic Development, and City of Monroe.