LS Tractor

Nash County lands manufacturing plant

4/22/2009

By John Henderson
Rocky Mount Telegram

An international company based in South Korea that manufactures tractors and tractor parts has decided to open ts U.S. headquarters in a local industrial business park, creating 134 jobs during the next five years.

The jobs are expected to pay an average annual wage of $41,500, not including benefits, which is higher than the average salary of $31,616.

LS Tractor USA LLC specializes in heavy equipment parts and supply. It will open a headquarters, distribution and manufacturing facility in Nash County. The company plans to invest nearly $14 million in its new headquarters, which will be located in the former Southwire facility in the Whitaker Business and Industry Center.

LS Tractor USA is a wholly owned subsidiary of LS Mtron Ltd., a heavy equipment manufacturer based in South Korea. The company initially will import tractors from South Korea and distribute them nationwide. The company then plans to expand in Nash County and begin manufacturing and distributing tractor implements.

"I am delighted that we are able to bring this high-quality company to the Twin County region," Carolinas Gateway Partnership Chairman Frank Harrison said in a prepared statement. "LS Tractor USA will be providing jobs with a good wage and benefits to the Nash and Edgecombe communities, and that is so important."

The company was lured to the park with the help of a state grant and an undisclosed contribution from the Carolinas Gateway Partnership, a coalition of more than 200 public and private sector investors from the Twin
Counties.

The state grant could bring the company $995,000 if the jobs are sustained for nine years, John Gessaman, president of the Carolinas Gateway Partnership, said in a telephone interview, adding that the company will be bringing very good jobs to this area.

"We are very excited that we were able to participate with the governor and the state of North Carolina. We really thank them so much for their efforts," Gessaman said.

In a prepared statement, Gov. Bev Perdue expressed her pleasure that the company was coming to Nash County.

"North Carolina is a leader in heavy equipment manufacturing and service, thanks to our skilled work force and business-friendly policies," she said. "Our state continues to attract global companies looking for a strong commercial climate, an unparalleled quality of life and opportunities to provide the good jobs our citizens have come to expect."

Jae-Yong Sim, interim CEO of LS Tractor USA, said in the press release that the company's decision to locate in North Carolina also was based on the "dynamic business climate that this state offers."

"We are very proud to announce that we have selected North Carolina as the location of our U.S. headquarters. After looking at other states, we were very impressed with the educated and skilled work force that North Carolina offers, particularly in Nash County," he said.

Nash County also is trying to secure a grant for the company, but it has not yet been approved.

"This is truly a great day for Nash County and the region," Robbie Davis, chairman of the Nash County commissioners, said in a prepared statement.