Loba-Wakol, a supplier for wood and resilient flooring in Wadesboro, has announced plans to expand and create 24 jobs.
The governor’s office made the announcement on behalf of the company and Anson County on Thursday afternoon.
The company’s investment is $6.6 million, a news release said. Average annual wage of the jobs will be $43,750, or more than $10,000 above the annual average wage in the county.
“The cooperation with Anson County and the State of North Carolina provides us with an optimal opportunity to further expand our North American operations,” Ashley Carter said in a news release from Gov. Roy Cooper’s office. She’s the chief operating officer for Loba-Wakol. “The Loba-Wakol brand enjoys a distinguished reputation and stands for technical competence, premium products, and outstanding service. The extremely high level of commitment from the people involved mimics our core values and has convinced us that Anson County, North Carolina is the ideal partner for our organization.”
Loba-Wakol is a subsidiary of Loba and Wakol, two German manufacturing companies. The release said each has been considered a leading supplier for adhesives and finishes for nearly 100 years. The flooring industry gets adhesives and coatings from them. They also produce products used in three other industries: upholstery, mattress and metal packaging.
The companies are part of the larger ARDEX Group, which employs about 3,000 and is in more than 100 countries.
The facility in Wadesboro will be established as a distribution and warehouse facility. It will be able to accomodate future expansion as well.
The effort that brought about the expansion and new jobs had multiple parts. The release credited N.C. Department of Commerce and the Ecomonic Development Partnership, the General Assembly, the N.C. Community College System, Anson County, the town of Wadesboro, and the Anson County Economic Development Partnership.
One North Carolina Fund, which supplies awards that require a matching grant from local governments, awarded a performance-based grant of $70,000. To qualify for the payment, Loba-Wakol has to meet job creation and capital investment targets.
In the release, state Sen. Tom McInnis said, “We’re very pleased that Loba-Wakol has chosen to expand in North Carolina and has selected our region for this new facility. We extend a warm welcome and look forward to working with the company as they get established and grow in Anson County.”
House Rep. Mark Brody added, “Successful economic development projects require collaboration from many people and local organizations. While we pause to celebrate today’s announcement, the work of these community partners will continue as we support Loba-Wakol in the days to come.”