North Carolina Construction News staff writer-*9
Monroe City Council has approved an economic development incentive agreement for McGee Corp., clearing the way for the family-owned manufacturer to build a new $40-million facility in the city where the company was founded more than six decades ago.
McGee Corp., founded in Monroe in 1961 by Richard McGee and his father, plans to construct a 350,000-square-foot manufacturing and office complex on about 60 acres adjacent to Monroe Corporate Center.
The project includes 45,000 sq. ft. of office space, a 30,000-sq. ft. truck maintenance and wash facility, and a 100,000-sq. ft. steel fabrication building.
McGee relocated to Stallings in 1986 but has continued operating in Union County. It manufactures canopy systems, structural steel components and provides design engineering services for clients including convenience stores, travel plazas, banks, restaurants, car washes, commercial developments and government projects.
The expansion represents an estimated $40 million investment in land, construction, machinery and equipment. McGee said it will retain its existing workforce of 164 employees and expects to create additional jobs over the next five years, including about 32 positions within the first two to three years. Average annual wages are projected at $62,000.
Currently, the property is owned by Union County and exempt from property taxes, will become taxable after the sale to McGee is completed, adding to the city’s tax base. The company also will become a customer of the city’s electric, water, sewer and natural gas utilities.
City officials said the project will bring new investment and employment opportunities while expanding Monroe’s tax base.
“We are proud to partner with McGee throughout this process,” Teresa Campo, director of the City of Monroe Office of Economic Development, said in a statement. “This is a company with deep roots in Monroe and Union County, and this project brings real investment, new jobs and long-term tax base growth back to Monroe.”
Under North Carolina law, municipalities may offer economic development grants to encourage business expansion. Monroe’s Level IV incentive program applies to projects involving at least $30 million in capital investment.
Richard McGee, now 83, remains active in the company alongside his sons Kevin, Todd and Swede.
“We’re very thankful for the time and effort the Council and city staff put into this project,” Swede McGee said. “It’s been a great journey. We’re very, very fortunate, very blessed.”
Construction is expected to begin following completion of final site work, with development occurring in phases during the five-year investment period.