Earlier this week, Continental North America, a unit of German Continental AG, announced that it plans to invest in a $40 million expansion for its Morganton automobile brake plant that will create 160 jobs, the Charlotte Business Journal reported.
The news source said that the state of North Carolina will give the company as much as $1.6 million in Job Development Incentive Grant funds.
The brakes produced at this facility - which is located approximately 80 miles northwest of Charlotte - will be part of the new state-of-the-art MK C1 brake system.
According to Continental's press release, the expansion is slated for completion by the beginning of next year. The approximate 160 jobs expected to be created over the next five years will add to the plant's existing workforce of over 400 full-time employees.
"We're always encouraging our existing manufacturing partners to expand right here in North Carolina," said North Carolina Governor Roy Cooper in a statement. "And we feel confident that Continental will be able to find the skilled workforce they need to enhance their footprint in the beautiful mountain gateway of Morganton. The addition of these good-paying jobs will mean more money in the pockets of Burke County residents."