by: Linzi Sheldon Updated:
CABARRUS COUNTY, N.C. - A local company credits state and local incentives for keeping a multi
million -dollar business expansion in Concord.
Ron Hinson, the president of S & D Coffee, said despite being headquartered in Concord since 1929, his company had to consider other areas as potential locations for an expansion.
"We had a lot of states out west that were really begging us to come," he said.
Hinson said a lot of their business is out west and it was a strong possibility.
Instead, S & D Coffee, which supplies coffee for companies like Dunkin' Donuts and McDonald's, will build a manufacturing facility at two buildings on West Winds Boulevard in Concord and create about 200 manufacturing jobs over the next five years.
. Bev Perdue's office said the jobs will have an average wage of about $36,000.
The company is eligible to receive about $4.8 million from the state in incentives, including tax credits and other grants based on investment and hiring.
Cabarrus County approved $999,000 in property tax reimbursements on Monday night.
Earlier in the night, the city of Concord also approved a similar kind of grant for about $685,000.
All of the grants would be paid over several years.
Hinson said he expects to upfit the buildings and mov
e in equipment next year and hopes to start hiring at the end of 2013.
John Cox, the
president of Cabarrus Economic Development Corp ., said allowing S & D Coffee to expand elsewhere could have endangered the headquarters in the future.
"It's a big deal," he said. "We're not only creating 200 new jobs ... we're saving an awful lot of jobs. We're keeping this legacy company in Cabarrus and the economic base that goes along with it."
For more information about the company, click here.
For the company career page, click here.