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Incentives Lure New Cat Plant

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Peoria, Ill.-based equipment manufacturer Caterpillar Inc. announced on July 30 it will build a $426-million, 850,000-sq-ft mining equipment plant in Winston-Salem, N.C. Construction of the facility is scheduled to begin in November, with production to start in 2012. North Carolina approved a $16.8-million incentives package of tax rebates, credits and grants contingent on the company meeting hiring goals for 11 years. Winston-Salem and Forsyth County put up $23 million, making the total incentives package worth almost $40 million.

 

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