Cereal maker Malt-O-Meal is expanding in Randolph County.
The company plans to create 80 jobs and invest $135 million during the next three years at its 350,000 square foot facility in Asheboro, according to an announcement today from Gov. Bev Perdue's office. The company will receive a $350,000 grant from the One North Carolina Fund.
The Minneapolis company opened the plant about 75 miles west of Raleigh in 2009. It was originally lured to the state by financial incentives from Randolph County worth nearly $4 million and a state grant worth as much as $1.1 million. The latest state grant requires a local match.
The company now employs about 200 people. Salaries for the new jobs will vary by job function, but the average annual wage for the new jobs will be $34,508 not including benefits. The Randolph County average annual wage is $29,172.