Magna will receive $1.1 million in state tax breaks for the expansion. However, as part of the deal, state officials are requiring Magna to pay an average salary of at least $30,017 plus health care and other benefits. The three plants are located in Rowan, Catawba and Caldwell counties. Rowan ($35,048) and Catawba ($32,500) have slightly higher average annual salaries that the agreement guarantees, while Caldwell comes in just below at $28,340.
The unemployment rates in all three counties remains above the statewide average, the Associated Press reports.
“At $30,000 an average job, I think that’s something many, many, many people would be happy to have,” said Robert Van Geons, executive director of RowanWorks, the county’s economic development agency. “That’s a very competitive wage, and they’re not going to have any problem finding hundreds and hundreds of applications for that.”
Magna International operates 240 manufacturing plants in 25 countries.Magna International Bringing More Jobs to North Carolina by Harrison Barnes