A clothing manufacturer announced Wednesday that it will open a new ring-spinning factory in Rowan County and create 170 jobs over the next two years.
CanAm Yarns, a subsidiary of Gildan Activewear, will invest more than $50 million in the project in Salisbury.
The company is eligible to receive $1.55 million in incentives if it meets hiring and investment goals.
The average annual payroll for the project will be $6.1 million, or $35,882 per employee. The Rowan County average is $36,712.
Gildan currently employs 100 people at a yarn-spinning facility in Bladen County and 294 people at a distribution center in Rockingham County.
CanAm, which makes yarn for Gildan's knitting facilities, was formed in 2003 as a joint venture between Gildan and Frontier Spinning Mills.
Gildan recently acquired Frontier's interest in the venture.
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Source: http://blogs.newsobserver.com/business/gildan-to-open-yarn-facility-in-salisbury-and-create-170-jobs
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