The high tech engineering firm is expanding its business, which supports the aerospace and automotive industries as well as the military and department of defense. The construction of their green-design building will create jobs too.
The company plans to create the jobs over a five year period beginning in 2012. The project was made possible in part by a state grant from the Job Development Investment Grant program.
"LORD Corporation, like a growing number of international companies, recognizes the advantages of an educated, job-ready workforce," Gov. Perdue said. "Today's announcement is testament to why we fought so hard against education cuts this year. LORD Corporation found what they needed in North Carolina because of the investments we have made in our schools, our community colleges, our universities – our people."
In the end, the CEO says it's the combination of incentives offered by the state, the quality of life in the Triangle, and universities and colleges that make the decision to continue to grow in North Carolina an easy one.
"The quality of the workforce is absolutely critical," LORD Corp. CEO Rick McNeel said. "We hire engineers from N.C. State, business people from North Carolina; we hire a lot of engineers from Duke as well as people from the community colleges. So it's the whole educational base here in North Carolina, that's why LORD moved here in the first place."
Lord Corp. was founded by Pennsylvania patent attorney Hugh Lord in 1924 and has been in the Raleigh suburb for 16 years.
Lord Corp. says its sales exceed $600 million a year for products that control vibration, motion and noise. The company has been moving into solar energy and wind power products.