The company plans to create 38 jobs and invest $8.5 million over the next three years. Salaries will vary by job function, but the average annual wages for the new jobs will be $47,395, plus benefits.
The project was made possible in part by an $189,000 grant from the One North Carolina Fund. The Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
"Exela is pleased to be in a position to pursue its expansion plans and create these high paying jobs in Caldwell County," said Phanesh Koneru, president and CEO of Exela. "Exela is thankful to the officials of the City of Lenoir, Caldwell County, and the State of North Carolina for their continued support of Exela's business."
William Howard, chairman of the Caldwell Economic Development Commission, said, "Exela represents a diversification we have long strived for and we couldn't be more pleased they are now in a position to expand and create new, well paying jobs. Not only is this a wonderful way to usher in 2013, it is a testament to our entire community's ability to support an organization of the caliber of Exela.”