STATE: Sturm, Ruger & Company will invest $10 million in Rockingham County
RALEIGH: Sturm, Ruger & Company, Inc., a leading U.S. designer and manufacturer of commercial and sporting firearms, will grow its North Carolina workforce with an expansion at its Rockingham County production facility, Gov. Roy Cooper announced Monday. The company’s goal is to add roughly 60 jobs and invest approximately $10 million at its site in Mayodan over the next three years.
“North Carolina’s skilled workforce continues to make our state a smart choice for growing manufacturers,” Cooper said. “Today’s expansion by Sturm, Ruger & Co. highlights our state’s commitment to growing with companies and is a strong investment in the future of Rockingham County.”
Founded in 1949, Connecticut-based Sturm, Ruger [NYSE: RGR] is one of the nation’s largest manufacturers of firearms. Its award-winning products are bought by hunters, collectors and hobbyists, as well as law enforcement organizations, security firms and government agencies.
Sturm, Ruger established its $26 million production facility in Mayodan in 2013, and its workforce there currently totals 490. It also has plants in New Hampshire and Arizona.
“We are thrilled to achieve so many goals with this project,” said Mickey Wilson, Sturm, Ruger’s vice president of Mayodan operations. “This expansion will help us to grow our business and further expand our diverse lineup of rugged, reliable firearms, while at the same time expanding our presence in Rockingham County.”
The North Carolina Department of Commerce led a team of partners in supporting Sturm, Ruger’s decision to expand its North Carolina operations. The company had considered other U.S. business destinations. Salaries for the new jobs are expected to average $44,033 per year, creating an annual payroll impact for the region of more than $2 million per year. Rockingham County’s overall annual wages average $35,146. Sturm, Ruger’s new positions will include production associates and supervisors.
“Expansions by existing companies are compelling evidence that North Carolina’s economic assets and business climate remain competitive with other leading destinations,” said N.C. Commerce Secretary Anthony M. Copeland. “I congratulate Sturm, Ruger for its impressive growth and also commend the state and local partners and allies that have supported the company’s success in Rockingham County.”
A performance-based grant of $150,000 from the One North Carolina Fund will help facilitate Sturm, Ruger’s North Carolina expansion. The One NC Fund provides financial assistance to local governments to help attract economic investment and 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.
Joining the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina in the collaborative effort to support this project were the North Carolina General Assembly, the North Carolina Community College System, Rockingham County, the Town of Mayodan, and the Rockingham County Center for Economic Development, Small Business & Tourism.
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