Mahesh Amalean, chairman of MAS Holdings, stated: “We are delighted to be associated with Acme-McCrary, whose values and philosophy are very much in alignment with MAS. Our presence in the Western Hemisphere enables us to strengthen our value propositions of speed and flexibility offered through on-shore and near-shore operations to our customers. It also enables us to engage and strengthen our continued association with academia and research institutions in the U.S. We are appreciative of the support and assistance extended to us by the State, County, City and its officials and look forward to integrating and contributing to the community in North Carolina.”
W.H. Redding Jr., Chairman of Acme-McCrary stated, “We are pleased to be a part of MAS Holdings’ location of a manufacturing facility in our hemisphere. MAS Holdings brings to North Carolina an exemplary corporate culture and a growing business. Their concern for environmental impact is world class and keeping and growing textile jobs in North Carolina is exciting.”
A performance-based grant of $575,000 from the One North Carolina Fund will help facilitate MAS Holdings’ location into Randolph County. The One NC Fund provides financial assistance to support local government efforts to attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. In the case of MAS Holdings’ grant, in addition to its new job-creation target, the company is also required to retain 374 existing jobs currently located in North Carolina at Acme-McCrary. All One NC grants are also contingent upon a matching grant from local governments.
“This decision reinforces our region’s strengths as a business location for this industry,” said N.C. Representative Pat Hurley. “We look forward to MAS Holdings’ contributions to our community.”
N.C. Commerce and the Economic Development Partnership of N.C. led the state’s response to the company’s search for a business location.
Other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, North Carolina State University, Duke Energy, the City of Asheboro, Randolph County, and the Randolph County Economic Development Corp.
Posted April 11, 2017
Source: North Carolina Office of the Governor