Indian based auto parts manufacturer Bharat Forge announced Tuesday that it will locate a manufacturing plant at a site on Colon Road in Sanford, employing 460 people at an average wage of more than $47,000 in a project worth $170.9 million.
The announcement was made in a press conference at the Governor’s Mansion with N.C. Governor Roy Cooper, Sanford Mayor Chet Mann, Lee County Commissioners Chairwoman Amy Dalrymple, and Amit Kalyani, deputy managing director of Bharat Forge parent company the Kalyani Group.
“This announcement is just the culmination of an open for business agenda that our city announced about six years ago,” Mann said during the press conference. “We are proud to have brought together our city and our county leaders with our business community and our stakeholders and our citizens to form a great public-private partnership.”
Dalrymple called Bharat Forge a “perfect fit” for Lee County and noted that it wouldn’t be possible without various partners working together.
“Today’s announcement exemplifies the very best of North Carolina partnerships at work,” she said. “Lee County is fortunate to have great state and local government partners.”
Bharat Forge received an incentive package worth several million dollars from Sanford, Lee County and North Carolina in exchange for its decision to locate in Sanford, including the purchase of the future site on Colon Road.
This is the second major announcement about job and tax base growth in a few short weeks. Pfizer announced a half billion dollar expansion to its gene therapy operation in August, a project that is expected to generate 300 jobs without any additional incentive from state and local government.