HIGH POINT, N.C. (WGHP) – An international company that got its start in recycling wood for the furniture business is coming to the home of the furniture market.
Vecoplan, a German company that is focused on getting rid of the plastic and wood that you can’t toss into your curbside recycling bin, is investing $6.75 million and create 33 high-paying jobs for a new manufacturing facility in High Point, Gov. Roy Cooper announced.
In a separate release from the High Point Economic Development Council, the investment was said to be $10.95 million and would create 51 jobs in the next five years – it’s unclear why the numbers vary – at a 94,160-square-foot facility at 501 Gallimore Road.
The company, which began in Bad Marienberg, Germany, making deliveries to sawmills furniture industries and beginning in 1973 became the first to recycle wood, has since added equipment to processing large quantities of plastic and expanded its capabilities with wood. It says it is committed to recycling and reuse in every way in handling commercial and production waste.
The company’s North American headquarters are on Uwharrie Road in Archdale, and officials are calling this investment an expansion that will address what the company calls increased demand for mobile shredding trucks, waste collection trucks and recycling and sorting equipment.
“We have called North Carolina home for more than twenty years and are honored to continue supplying recycling and waste solutions for decades to come,” Vecoplan Chief Financial Officer Jeffrey Queen said in a release from the governor’s office.
High Point has been a center of the furniture industry for more than a century. It was estimated after World War II that 60% of all furniture produced in America came from a 150-mile radius of the city. Although that changed volume changed with international trade laws, the city has since 1909 celebrated with a furniture market event each year. This year’s event will be Oct. 14-18.
“High Point is growing significantly in all directions,” High Point Mayor Jay Wagner said in the EDC release. “We welcome Vecoplan to High Point and are excited to have this great company as part of the community for years and decades to come.”
Although salaries could vary, Vecoplan plans to pay an overall average annual wage of $84,848, which is about 48% higher than Guilford County’s overall average annual wage of $57,190, the release said The NC Department of Commerce estimates the investment will add $2.7 in economic impact to the region.
“This project is another great addition to the momentum that our region is experiencing,” State Rep. John Faircloth (R-High Point) said in the release. “We appreciate the diligent economic developers and officials on the state and local levels that continue to bring these great projects to our community.”
Said state Sen. Michael Garrett (D-Greensboro): “This expansion is a highlight of our transition to an innovative manufacturing economy and our educated workforce is ready to support the company in their next phase of growth.”
Vecoplan will receive $75,000 from the One North Carolina Fund in a performance-based grant. The payout is contingent on the company’s meeting job creation and capital investment targets. There also is a requirement that Guilford County and High Point would match that grant.
“Global manufacturers want to expand in places with access to a skilled workforce, research infrastructure, and a great quality of life,” Cooper said in the release. “Vecoplan has experienced these benefits with its North Carolina headquarters, and we believe they will find more success in the years to come.”