Precision Swiss Products Establishes Headquarters in Brunswick County, North Carolina

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Precision Swiss Products, Inc., a manufacturer of high-precision components, will create 125 new jobs in Brunswick County, North Carolina.

The company will invest more than $ 9.3 million to set up its headquarters and manufacturing facility in International Logistics Park, using the latest technology and robotics to manufacture its innovative parts.

“We are excited to relocate our corporate headquarters and significantly expand our manufacturing footprint in North Carolina,” said Norbert Kozar, CEO of Precision Swiss Products. “We look forward to forging a long lasting and mutually beneficial partnership with the State of North Carolina and the County of Brunswick working together to create these highly skilled jobs and we look forward to working with local colleges to provide training. to future jobs as we grow our business. “

The North Carolina Department of Commerce led the state’s efforts to support PSP’s decision to relocate to North Carolina. The new jobs will employ highly skilled machinists, shipping and receiving workers, quality control personnel, managers and administrative staff. The average annual salary for all new positions is $ 54,025, creating an annual payroll impact of over $ 6.7 million per year.

PSP’s expansion will be facilitated, in part, by an Employment Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the 10-year term of the grant, the project is expected to grow the state’s economy by more than $ 301 million.

“We are delighted that another innovative company is choosing North Carolina for its headquarters,” said Governor Roy Cooper. “With our world-class quality of life, our ideal location and, most importantly, our diverse and highly skilled workforce in Brunswick County, Precision Swiss Products has made an excellent decision to join our business community.”

Using a formula that takes into account the new tax revenues generated by the 125 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $ 1,779,000 over 10 years. Payments for all JDIGs only take place after performance verification by the Commerce and Revenue departments that the business has met its goals of additional job creation and investment. JDIG projects generate positive net tax revenue for the public purse, even after taking into account grant repayment payments to a given company.

Because PSP is moving into the International Logistics Park in Brunswick and Columbus counties, the latter being classified by the state economic level system as Level 1, the company’s JDIG agreement does not require contribution to the State Industrial Development Fund – Public Services Account.

“Businesses continue to have confidence in North Carolina’s ability to support their strategic growth plans,” said North Carolina Secretary of Commerce Machelle Baker Sanders. “The strength of our manufacturing economy, the productivity of the largest manufacturing workforce in the Southeastern United States, and our dynamic workforce development partnerships are the right tools for a successful workforce development. innovative company like Precision Swiss Products succeeds. ”

In addition to the North Carolina Department of Commerce and the North Carolina Economic Development Partnership, other key project partners include the North Carolina General Assembly, the North Carolina Community College System, the Brunswick Community College, Brunswick County Council of Commissioners, Brunswick Business & Industry Development, Columbus County, Southeastern North Carolina and Duke Energy.


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