RALEIGH -- PRESS RELEASE Office NC Gov Roy Cooper
Dowa Thermotech to invest $22.5 million in Sanford
Aug 28, 2018
Dowa Thermotech Co. Ltd., a global provider of industrial furnaces and heat protection treatments, will open a new facility in Lee County, creating 109 jobs, Governor Roy Cooper announced today. The company plans to invest $22.5 million in Sanford with plans to serve clients in the automotive and industrial machinery supply chains.
“Dowa Thermotech is the latest example of an international company choosing North Carolina as the perfect location to do business,” said Governor Cooper. “North Carolina competes with the top locations anywhere in the world, thanks to our strong business environment, world-class workforce, and high quality of life.”
Dowa Thermotech, with headquarters in Nagoya, Japan, is a subsidiary of Dowa Holdings Co. Ltd., a global company operating in a wide range of industry sectors including nonferrous metals, metal processing and environmental management and recycling. Dowa Thermotech specializes in the manufacture of industrial furnaces and offers high quality commercial heat treatment services. The company provides heat protection for metal engine parts, transmissions and other rotating elements that operate in harsh environments.
“I hear that North Carolina has been chosen as the easiest state to live at all times and it is truly our honor to build our new factory in this a wonderful state,” said Ryuji Tsuji, President for Dowa Thermotech. “We dream of building a great factory in this area with your support.”
“We welcome Dowa Thermotech to North Carolina’s growing roster of Japanese companies,” said Commerce Secretary Anthony M. Copeland. “From Tokyo to capitals around the globe, North Carolina’s reputation as an outstanding business location is well known.” N.C. Commerce and the Economic Development Partnership of N.C. were instrumental in supporting the company’s decision to locate in the state.
Once the company fills all of the positions announced today, the annual payroll impact of the new jobs will be more than $3.8 million.
A performance-based grant of $220,000 from the One North Carolina Fund will help facilitate Dowa Thermotech’s move into Lee County. 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.
“Many people and local organizations pulled together to help this company locate into our region,” said N.C. Representative Robert Reives. “We’re proud of this collaboration and stand ready to assist Dowa Thermotech as they begin to grow in North Carolina.”
In addition to North Carolina Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, North Carolina State University, the North Carolina Japan Center, Lee County, the City of Sanford, and the Sanford Area Growth Alliance.