North Carolina Construction News staff writer
Sumitomo Forestry America, Inc., a Japanese housing and wood products company has announced plans to establish a manufacturing facility and invest $19.5 million in Archdale.
“Manufacturing companies find North Carolina’s rural communities offer them an ideal place to grow their businesses, Gov. Roy Cooper said in a statement. “From our superior transportation networks to our skilled workforce, Sumitomo Forestry will find Randolph County will deliver the right ingredients for success.”
Sumitomo Forestry America is a wholly owned subsidiary of Sumitomo Forestry Co., Ltd., a Nikkei-listed forestry company founded in 1691 and headquartered in Tokyo.
The company’s project in North Carolina will establish a manufacturing and distribution facility to produce building materials such as roof trusses, floor trusses, and wall panels used in residential housing and wooden commercial and multi-family buildings.
Another wholly owned subsidiary of Sumitomo Forestry America, Charlotte-based Crescent Communities, will help develop and build the new production facility.
“We look forward to partnering with North Carolina on the development of this facility, which will not only help builders and developers with supply chain needs but will also contribute to the local economy and community,” said Atsushi Iwasaki, president of Sumitomo Forestry America, Inc. “Randolph County, North Carolina offers the ideal conditions for our investment, including infrastructure, a skilled workforce, and a favorable business climate. We greatly appreciate the community’s warm welcome and will continue to share updates as the project progresses.”
Although wages for the new jobs will vary depending on position, the average salary will be $45,782, which is above the current average wage in Randolph County of $40,552.
“We welcome Sumitomo Forestry, another Japanese company, as they join North Carolina’s family of manufacturers,” said Commerce Secretary Machelle Baker Sanders. “Japan remains one of our state’s largest sources of foreign direct investment, thanks to our state’s long-term investments in our education and workforce training systems, and our transportation infrastructure.”
A job development investment grant (JDIG) was approved by the state’s Economic Investment Committee and over 12 years, the project is estimated to grow the state’s economy by $308.3 million.
“Many people and organizations supported this company throughout the extensive site selection process,” said N.C. Representative Pat Hurley. “We’re delighted that Sumitomo Forestry has chosen our community for this important new project for their company.”