One of Macon County’s longtime industry leaders has announced it will be expanding.
Duotech Services, LLC, an engineering company that specializes in the repair and maintenance of legacy defense equipment, has been operating in Franklin since 1986. The company was approved for a Job Development Investment Grant (JDIG) through the North Carolina’s Economic Investment Committee on Tuesday.
Public tax dollars will help the company pay for an expansion that will create new local jobs with an average salary of $91,271, state officials said.
“This is our home,” said Dan Bader, President and CEO of Duotech in a press release. “We want to remain in this community and are proud to provide good paying technical jobs in Macon County.”
The company plans to expand operations in Franklin with a $6.5 million investment that will generate 95 new jobs. Bader said Duotech is currently hiring.
The company’s website shows its current facility and plans to expand next door.
N.C. Rep. Karl E. Gillespie lauded Duotech’s growth – and state officials’ efforts to “keep Duotech in Macon County.”“From a humble beginning in 1982, Duotech headquartered their operations in Macon County in 1987," Gillespie said in a press release. "Since then, they have continued to expand operations and provide well paying jobs.”
Duotech performs maintenance and repair support services to the U.S. government and provides repair and sustainment services for large-scale Original Equipment Manufacturer electronics. Duotech also designs, develops and manufactures products such as advanced radars and radar warning receivers for commercial and military applications, according to the North Carolina Governor’s office.
"Duotech’s growth is another reason why North Carolina is the most military-friendly state in the country,” Gov. Roy Cooper said in a press release. “We welcome the expansion of this nimble and innovative company that’s supporting the defense of our country and its allies while creating great jobs in western North Carolina.”
Over the course of the 12-year JDIG grant, Duotech may be reimbursed up to $845,100. Payments from taxpayer dollars will be based on annual performance reviews by the departments of Commerce and Revenue to verify that the company hits job creation and investment targets.
The company’s JDIG agreement also calls for moving $93,900 into the state’s Industrial Development Fund Utility Account. The utility account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 2 county such as Macon, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state.
Duotech Services is a Bernhard Capital Partners portfolio company.
The projected return on investment of public dollars in Duotech’s expansion is 234% and is estimated to grow the state’s economy by $416.8 million, according to the governor’s office.
