Yale Industrial Products Inc., a designer, manufacturer and marketer of material-handling products, will expand operations in Wadesboro, N.C. With a grant from the One North Carolina Fund, the Columbus McKinnon Corp. subsidiary plans to invest $3 million and create 65 jobs during the next three years.
Columbus McKinnon, Amherst, N.Y., currently has four U.S. hoist-manufacturing facilities: Michigan, Ohio, Virginia and Wadesboro, which presently employs 136 workers. The company plans to consolidate its Michigan operation into existing plants in other states, including the Wadesboro facility, which will add a line of wire rope hoists.
It is estimated that the 65 new jobs will pay an average annual wage of $37,031, not including benefits. Under conditions of the grant, Yale will be required to replace 16 jobs lost in a recent layoff and create 49 new jobs to reach the grant’s total of 65 new jobs during the next three years.
“We considered the safety, quality, efficiency, productivity and customer-oriented culture of the workforce at our Wadesboro operation,” said Gene Buer, Columbus McKinnon vice president. “Combining those factors, along with a strong leadership team and experience in building wire rope hoists, we have all the right ingredients for success in today’s demanding business environment. In making our decision, we were also very impressed with the level of support we received from the City of Wadesboro, Anson County and the state of North Carolina.”