CYP to expand, add 23 new jobs in TryonPublished 6:37pm Wednesday, October 3, 2012
Carolina Yarn Processors (CYP), a division of Fendrich Industries Inc., will expand its operations in Polk County, according to the Polk County Economic Development Commission (EDC).
Fendrich, a family-owned manufacturer of textiles and printed cloth fabrics, plans to create 23 jobs and invest $740,000 over the next three years in Tryon, according to the Polk EDC. The company produces a variety of printed cloth products such as bandannas. It also bleaches and dyes natural and synthetic yarn for weavers in the home furnishings industry. In addition to CYP, Fendrich operates two other divisions: Carolina Manufacturing Company and Union County Printworks. Fendrich Industries currently employs more than 40 people at its Polk County facility.
Salaries for the new CYP positions will vary by job function, but the average annual salary for the new jobs will be $28,739, plus benefits. The Polk County average annual wage is $28,496.
“Fendrich purchased Carolina Yarn Processors in 1986 and Tryon has been a great place for doing business,” said David Moore, president of Fendrich Industries. “Our company has many dedicated long-term employees at CYP and we look forward to increasing employment in Polk County.”
The project was made possible in part by an $115,000 grant from the One North Carolina Fund. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
“This grant was a key factor in our decision to expand in North Carolina,” Moore said.
Through use of the One NC Fund, more than 60,000 jobs and $11 billion in investment have been created since 2001. Other partners that helped with this project include: the N.C. Department of Commerce, N.C. Community Colleges, Polk County, Town of Tryon and the Polk County Economic and Tourism Development Board.
– article submitted by the
Polk County Economic