A New Jersey manufacturer will relocate to High Point and create 68 jobs over the next three years, state officials announced this morning.
Baltek Inc. will receive a state grant worth as much as $204,000 if it meets hiring goals, plus a matching local grant. The jobs will pay average annual salaries of $37,817, less than the Guilford County average of $38,116.
The company is a subsidiary of 3A Composites of Switzerland. Baltek makes balsa wood materials that are used in windmill rotors, boat hulls and other products.
"High Point will provide us a solid basis from which we can continue to competitively serve our customer base into the future,” said Pierre Monéton, president of Core Materials of 3A Composites, in a prepared statement.
New manufacturing jobs are welcome in the Triad, which has been hit by declines in the textile and furniture industries. Guilford County's jobless rate in July was 10.8 percent, well above the state and national averages.