BorgWarner plans to invest $74.9 million to create 193 jobs in Henderson County to build a manufacturing facility for a new product for the automotive industry. The company makes transmission and engine parts, as well as battery systems, with its largest customers being Ford and Volkswagen.
BorgWarner will build a 220,000-square-foot manufacturing site, adding to its portfolio of 84 manufacturing and technical centers worldwide. It already has a manufacturing site in the Buncombe County town of Arden, which opened in the late 1970s. The Arden site manufactures turbochargers, fans and fan drives. Technical development is also done in Arden.
The new jobs will pay an average wage of $78,628, which is more than 52% higher than the current average wage of $51,565 in Henderson County. On Tuesday, the state’s Economic Investment Committee approved a Job Development Investment Grant of $1.78 million spread over 12 years to BorgWarner to help facilitate the expansion. The state money will only be paid if the company hits investment and job creation targets.
“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,” said Joseph F. Fadool, president and CEO, BorgWarner. “We appreciate the grant and continued support from the state of North Carolina to expand our manufacturing footprint here in the United States.”
BorgWarner has about 38,000 employees, including more than 29,000 outside the U.S., according to its most recent proxy statement. It had $14.1 billion in revenue last year, of which about 87% came from electric vehicle and emissions-reducing hybrid and combustion products, according to its website.