American Roller Bearing Industries, a Hickory-based manufacturer, plans to add 231 jobs at its facilities in Burke and Alexander counties over the next five years.
The company was awarded state incentives worth just over $2 million today if it meets hiring and investment goals. Burke and Alexander counties are also providing $800,000 in incentives.
ARB will spend $23.7 million expanding its existing facilities in Morganton and Hiddenite. The company currently employs 341 people in North Carolina.
The new jobs will pay average annual wages of $38,564. That's above both the Burke County average of $30,784, and the Alexander County average of $26,728.
Over 90 percent of the new jobs will be in Morganton, about 75 miles northwest of Charlotte. Both plants make anti-friction bearings used in a variety of different industries, including railroads, construction and mining.