Knit-Rite, headquartered in Kansas City, Kansas, will expand its manufacturing plant in Ellerbe, North Carolina with an investment of more than $1.1 million. According the company, the expansion will create 24 full-time local jobs, including transitioning some current part-time employees to full-time work. The expansion was made possible in part by a $24,000 grant from the One North Carolina Fund.
“North Carolina remains a favorite choice for successful and expanding manufacturing companies,” North Carolina Governor Bev Perdue said. “Our trained workforce and outstanding quality of life continue to attract companies looking for the perfect location to compete in a worldwide marketplace.”
Knit-Rite plans to modernize and expand the Ellerbe facility, where compression hosiery, socks and other specialty textiles are knitted, dyed, and finished. The project’s 24 new jobs will pay an average annual wage of $22,533, not including benefits. The company also owns Therafirm Compression Products in Ellerbe, which operates as a separate division and currently employs 44 workers.
“We are very pleased to work with the North Carolina Commerce Department and the local Richmond County Economic Development team on our expansion project,” said Chris Vering, Knit-Rite executive vice president and chief operating officer. “Knit-Rite is not only committed to expanding our business, but to investing in the local community…. We are grateful for the incentives provided by the state of North Carolina and Richmond County, as they will help in that expansion and allow us to continue to support local economic stability.”
The One North Carolina Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies that received assistance through the fund receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.