Vecoplan announces $10M plus investment and 51 new jobs
HIGH POINT, NC - Vecoplan, a leading international company that locally manufactures and distributes industrial grinding equipment, announced expansion plans today for a new US Headquarters manufacturing facility. The project will include a $10,950,000 investment and the creation of 51 new full-time jobs over a five-year period. The company will occupy the entire 94,160-sf of newly constructed space at 501 Gallimore Dairy Road in High Point.
"High Point is growing significantly in all directions. 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," said High Point Mayor Jay Wagner.
Vecoplan services the plastics, paper, wood, and waste industries while creating solutions for their customers who have challenging applications for waste size reduction. The custom grinding systems, durable mobile shred trucks and advanced industrial shredders have made Vecoplan a global leader in the converting, recycling, scrap, and repurposing markets.
"Vecoplan searched nationwide for the perfect location for its US Headquarters. High Point came out on top thanks to its available, skilled labor, transportation infrastructure and high quality of life," said Jeff Queen, Vecoplan Managing Director and Chief Financial Officer.
The 51 new positions will be created over the next five years and will include professional positions and production employees with an average annual compensation package of $85,490. Guilford County's current overall average annual wage is $57,190.
“We applaud Vecoplan’s decision to grow in High Point,” said Sandy Dunbeck, Director of High Point Economic Development Corporation and the 2023 Director for the Guilford County Economic Development Alliance.
“Seeing Vecoplan growing in High Point continues to validate the great assets we have in the City of High Point, Guilford County, the Carolina Core and State of North Carolina for the Advanced Manufacturing sector,” she concluded.
View Governor Cooper’s release* Industrial Shredding Company Adds State-of-the-Art Facility in High Point
(*Note: the State’s release cites the project’s investment and hiring numbers on a three-year scale)