Gov. Beverly Perdue (right) receives a toy Caterpillar truck from Michael Murphy, Caterpillar's manager of global mining, during a ceremony at Forsyth Tech on Friday where Perdue announced the company will build a $426 million facility in Forsyth County. (photo by Keith T. Barber)
Gov. Beverly Perdue officially announced that Caterpillar, the largest maker of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines in the world, will build a new manufacturing plant in Forsyth County during a ceremony on the campus of Forsyth Tech on Friday.
“Today, my friends is a really big red letter day in all bold capital letters,” Perdue said to sizable audience that included state legislators, Winston-Salem City Council members, Forsyth County commissioners, and other dignitaries.
Perdue ticked off the economic benefits to Winston-Salem and Forsyth County: a $426 million investment by Caterpillar over the next five years, 392 permanent jobs and 120 contract positions, a significant expansion of the area’s tax base and the prestige of being the newest member of Caterpillar’s global family.
Caterpillar has an excellent track record in North Carolina, Perdue said. The company currently employs more than 1,000 people in the state.
“This is one of the most biggest and most successful companies in the world… and they really are good to their workers, so you can count really quickly 400 families in this area who will have a CAT hat in their house or have a little CAT truck in their garden,” Perdue said.
There will be nothing little about the mining vehicle axles built at the new facility in Forsyth County, said Michael Murphy, Caterpillar’s manager of global mining.
A typical axle built at the new Forsyth plant for Caterpillar’s heavy duty mining trucks will be 30 feet long and weigh100,000 pounds. The tires for one of Caterpillar’s mining trucks stand more than 13 feet tall and cost $43,000 apiece. Fully loaded the truck weighs 1.3 million pounds, Murphy said.
Perdue said it was a fight to bring Caterpillar to the area, as Winston-Salem competed against Spartanburg, SC, and Montgomery, Ala., for the facility.
“Two other states wanted them bad,” Perdue said. “We made a real hustle, hard-sell call, a few of us recently. We did not promise them the world but we promised them the best workforce in the world.”
On July 19, the Winston-Salem City Council unanimously approved a $13.3 million economic incentive package to entice Caterpillar to set up shop in Forsyth County. The Forsyth County Commissioners committed $10.2 million in economic incentives to the project, bringing the county's total economic development offer to $23.5 million. The project was also made possible in part by state grants from the Job Development Investment Grant program and One North Carolina Fund.
Perdue lavished praise on Winston-Salem Mayor Allen Joines, local elected officials and business and civic leaders for pulling together as a team to bring a tremendous economic boon to the area. Joines thanked Perdue for her “tireless efforts,” and proclaimed Friday’s announcement of Caterpillar’s decision to come to Winston-Salem as a significant moment in the city’s history.
“This decision validates Winston-Salem and Forsyth County as an effective and strong location for future economic development projects,” Joines said. “We’re committed to growing our economy and today is a bold and significant step in that movement.”
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