North Carolina tool maker adding 400 jobs in $130 million expansion, state says
Longtime Lincoln County power tool maker Bosch will add 400 jobs in a $130 million expansion of its Lincolnton-based North American operations, Gov. Roy Cooper and the company said Thursday.
The jobs will pay an average annual salary of $53,204, exceeding Lincoln County’s average wage of $49,332, according to the N.C. Department of Commerce, which led the state’s efforts to help Bosch expand.
The state offered $2.7 million in taxpayer incentives to the company over 12 years. The project’s payroll could add an annual $21.4 million to the community, Commerce Department officials said.
In a statement, Cooper said the company’s announcement signaled that North Carolina’s well-trained workforce continues to attract jobs.
Bosch will make power tool accessories for saws, drills and routers in a new 325,000-square-foot building, according to Cooper’s office. Company officials said they’ll expand production over two years.
About Bosch power tools maker
Based in Germany, the company opened its Lincolnton site in 1960 and employs about 420,000 people worldwide.
Bosch reported $93 billion in sales worldwide across all its businesses and $6.2 billion in 2022 worldwide power tool sales. Bosch said it intends to more than double power tool sales by 2030.
“We are sharpening our product portfolio to best meet the needs of North American users,” Robert Hesse, president and CEO of North America, Robert Bosch Tool Corp., said in a statement. The Lincolnton expansion “supports our growth goals here.”
Other Charlotte-area jobs expansions
The Charlotte region has seen a number of significant jobs moves this year, including:
▪ An Italian electric vehicle charging station manufacturer called Alpitronic Americas LLC plans to invest a total of $18.3 million and create 300 jobs opening its U.S. headquarters in Charlotte, state and local officials said last month.
▪ Also in May, Atom Power, a Mecklenburg County electric vehicle charging technology company, said it plans to invest nearly $4.2 million to expand its Huntersville operation. That move would add 205 jobs, local and state officials said at the time.
Over 200 jobs headed to Huntersville as NC looks to charge up electric vehicle tech work
▪ And EPOC Enviro, an Australian environmental engineering company is expanding to the United States, state officials said in April. The company is making Statesville the home of a new 260,000-square-foot manufacturing facility that will bring 226 jobs to Iredell County.
