Clayton Supply, a mobile home company controlled by Warren Buffett, will create 263 jobs with a new facility for manufactured housing in Stanly County. The company’s $46.6 million project will be located in New London, about 40 miles east of Charlotte.
The company is part of Maryville, Tennessee-based Clayton Home Building Group, the largest U.S. builder of modular and manufactured homes, producing more than 62,600 homes last year. Buffett’s Berkshire Hathaway conglomerate bought Clayton in 2003 for $1.7 billion.
The average salary for the new positions will be $59,388, which is above the current average wage of $41,612 in Stanly County.
The state will reimburse Clayton Supply almost $2.1 million over the next 12 years if it meets job projection and investment goals. The project is expected to grow the state’s economy by $649 million over the 12-year term of the grant. The company will also get a state grant of $229,300 to help with infrastructure upgrades.
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Department of Revenue, Stanly County, the Town of New London, and the Stanly County Economic Development Commission.
Stanly County had an unemployment rate of 3.2% in June. The state’s unemployment rate in July was 3.3%.
Clayton also has manufacturing plants in Rockwell in Rowan County and Oxford in Granville County.