April 26, 2022
North Carolina Railroad Company Invests $250,000 in Rail for Technimark in Asheboro, N.C.
The North Carolina Railroad Company (NCRR) is one of several partners named in the recent announcement that Technimark will expand its manufacturing footprint in Asheboro, N.C., bringing an investment of $62 million and 220 new jobs with an average annual wage of $44,290.
Technimark is a global plastic injection molding company with headquarters in Randolph County, N.C. This expansion will allow the company to meet the growing product demand in the healthcare and consumer services industries, particularly from medical device manufacturers who require U.S.-made component parts.
Through NCRR’s economic development initiative NCRR Invests, NCRR is investing approximately $250,000 to assist with the construction of a new onsite rail spur for Norfolk Southern to serve the new facility. This will increase activity by 40 additional rail cars each year.
“Investments like this are the result of strong partnerships,” said Carl Warren, NCRR President and CEO. “NCRR appreciates the opportunity to contribute to an effort which included Randolph County, the City of Asheboro, the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, and many others who made this important project a reality. These wins are always a team effort, resulting in the creation of new jobs for the people of North Carolina.”
Additional project partners include the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Department of Transportation, Norfolk Southern, Duke Energy, Randolph Community College, and the Randolph County Economic Development Corporation.
About the North Carolina Railroad Company
The North Carolina Railroad Company is a private corporation whose voting stock is owned by the State of North Carolina. The Company manages the use of 317 miles of track and property stretching from Charlotte to the Port of Morehead City. The Company’s mission is to benefit the people of North Carolina by aggressively leveraging the unique strengths and capabilities of the North Carolina Railroad Company. Our vision is a modernized railroad that meets the needs of the future, expanding North Carolina’s competitive advantage.
About NCRR Invests
NCRR Invests provides assistance to companies that take advantage of the state’s freight rail opportunities and create jobs by locating or expanding their business in North Carolina. The goal of any NCRR investment is to drive job creation and economic growth.