The company plans to invest a minimum of $74.9 million to construct a new 220,000-square-foot advanced manufacturing facility in Hendersonville. The site will be dedicated to producing a new, unannounced industrial product, further bolstering the state’s robust automotive supply chain. This will mark BorgWarner’s second facility in North Carolina, adding to its worldwide network of 84 manufacturing and technical centers.
A Major Economic Win for Western North Carolina
Governor Stein hailed the decision, emphasizing the investment’s importance for the region’s manufacturing economy.
“I am pleased that BorgWarner will deepen its roots in western North Carolina,” said Governor Josh Stein. “This decision reaffirms our ranking as the best state to do business, highlights our thriving automotive industry, and invests in our manufacturing economy in western North Carolina at a time when it’s sorely needed.”
N.C. Commerce Secretary Lee Lilley underscored the highly competitive nature of the selection, noting that BorgWarner chose to reinvest in North Carolina despite having global options. “Western North Carolina is recovering stronger every day, and companies looking to grow want to do so in places like Henderson County, where there is access to a strong talent pool, a solid supply chain, and an excellent quality of life,” Lilley stated.
BorgWarner’s President and CEO, Joseph F. Fadool, expressed appreciation for the support from the state: “BorgWarner is proud to continue to invest in the state of North Carolina to bring an exciting new technology to market and provide jobs to local residents.”
High-Paying Jobs and Regional Impact
The 193 new positions are projected to bring a substantial boost to the local economy. The annual average salary for the new jobs is expected to be $78,628, which is significantly higher than the current average wage in Henderson County ($51,565). This high-value hiring is estimated to generate an annual payroll impact of over $15 million for the region.
The expansion is supported by a Job Development Investment Grant (JDIG), approved by the state’s Economic Investment Committee. The 12-year grant is projected to grow North Carolina’s economy by $583 million.
Under the JDIG agreement, the company is eligible for a potential reimbursement of up to $1,786,500 over 12 years, contingent upon meeting its job creation and investment goals. The state estimates a strong return on investment for public funds at 74 percent, generating $1.74 in state revenue for every dollar of potential cost. As Henderson County is classified as a Tier 3 economic area, the grant also directs $595,500 into the state’s Industrial Development Fund – Utility Account, which assists more rural communities with infrastructure financing.
State and local officials praised the collaborative effort. Senator Timothy D. Moffitt noted, “We are delighted to welcome BorgWarner back to Hendersonville,” and Representative Jake Johnson called the announcement “outstanding news for the region and the entire state.”
Key partners in securing this project included the N.C. Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, the N.C. Community College System, Blue Ridge Community College, Duke Energy, Henderson County, the Henderson County Partnership for Economic Development, and the City of Hendersonville.
WNCTimes
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