Global manufacturer of household appliance components will invest $28M, create 110 jobs in Kinston

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KINSTON – European manufacturer Grupporeco will establish its first manufacturing facility in North America in Lenoir County, creating 110 jobs with an average wage of $39,854.

The manufacturer of household appliance components will invest some $28 million in the project, much of it which must be invested prior to the company’s newly formed U.S. subsidiary, RECO U.S. Inc., in order to qualify for a state incentive package approved earlier today by the state’s Economic Investment Committee.

Under the terms of the deal, the new positions are expected to bring $4.3 million of annual payroll growth to the region, an estimate from the North Carolina Department of Commerce noted.

That deal, a Job Development Investment Grant (JDIG), follows a 12-year term.  During that term, the Department of Commerce estimates that the project is will grow the state’s economy by more than $339 million. The agreement awarded to the company authorizes the potential reimbursement to the company of up to $918,000 during the term, the Department of Commerce confirmed in a statement.

According to the statement, Grupporeco produces and distributes coated dishwasher baskets, steel wire and tube components, aluminum tubing, and components for major household appliance companies.

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Grupporeco’s new subsidiary in Lenoir County, RECO U.S. Inc., will allow product development and manufacturing closer to its U.S. clients, consistently contributing to the development of a stronger local supply chain.

“The U.S. is a key market for our growth and we look forward to cooperating intensively to make Grupporeco’s arrival a success for our company and the local stakeholders,” said Grupporeco and RECO US Inc. CEO and President Vincenzo Locatelli in a statement.

The company will also receive local incentives of about $1.2 million, according to the presentation of the JDIG proposal at the meeting of the Economic Investment Committee.

The job targets include a goal of creating 110 new positions by the end of 2026, according to the terms of the deal.

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Anthony Barnett
Anthony is the author of the Science & Technology section of ANH.