Thursday, June 5, 2014

More jobs headed to Charlotte as Korean firm sets up shop

A South Korean tool manufacturing firm announced Thursday that it will set up shop in Charlotte, hiring about 53 people at an average salary of $63,111.

YG-1 USA, which the Charlotte Chamber said ranks among the top five cutting tool manufacturers in the world, will invest $13.8 million in the project. The new facility at 11001 Park Charlotte Boulevard in southwest Charlotte will build high-performance cutting tools for the aerospace, medical and power generation industries. It will also serve as a hub for the company's research, development and engineering of cutting tool technology.

"We chose Charlotte because of its optimistic growth and bright future business outlook both domestically and internationally," said H.K. Song, chairman and president of YG-1 Korea.

Chamber President Bob Morgan said the company's move to Charlotte further burnishes the area's growing international advanced manufacturing presence. YG-1's parent company, based in Seoul, employs more than 5,000 workers around the globe, the chamber said.


Anonymous said...

What happend to all the right wingers chanting mindlessly about 'Detroit on the Catawba'?

Anonymous said...

I'm a right winger, but I never get mad about economic opportunity that will boost Charlotte. I'm just a right winger socially. :)

Anonymous said...

The airport remains a low-cost provider which wasnt a priority when we had mayor Foxx and city council wanting to fund the budget that included the Elizabeth St trolley. McCrory is lowering state tax rates to better compete with our neighbors in GA, TN, and SC.
If Perdue and Foxx were still at the helm, we would be raising tax rates, further extending unemployment benefits, and using nat. gas but not exploring for it.

Jodi W. Brown said...

The court record, as I wrote, is convoluted, but it's odd that, if Forest City were truly certain this would not lead to apprenticeships, the company chose to fund not just merely "life skills" training but also construction skills. Could it be that they were "humoring" BUILD to keep the non-profit's public posture of support?Executive Employers Complaints