Defense contractor to create 95 jobs in Macon County
Gov. Roy Cooper’s office has announced that Duotech Services, an engineering company that specializes in the repair and maintenance of legacy defense equipment, will expand its operations in Macon County, creating 95 jobs, Governor Roy Cooper announced today. The company plans to invest $6.5 million in Franklin.
“Duotech’s growth is another reason why North Carolina is the most military-friendly state in the country,” 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.”
Duotech was established in 1982 and has continuously operated in Franklin since 1986. Products purchased by the Department of Defense require maintenance and repair over time, yet the Original Equipment Manufacturers (OEMs) tend to drop support of older products in favor of selling new equipment.
Duotech is now a major supplier of maintenance and repair support services to components of the U.S. Government, and the company offers major OEMs repair and sustainment services for large scale electronics equipment. Duotech also designs, develops, and manufactures products such as advanced radars and radar warning receivers for commercial and military applications.
Duotech’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $416.8 million.
The project’s projected return on investment of public dollars is 234%, meaning for every dollar of potential cost to the state, the state receives $3.34 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
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Because Duotech chose a site in Macon County, classified by the state’s economic tier system as Tier 2, 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 is a valued and important employer in our region and it’s great to see this expansion in Macon County,” said N.C. Senator Kevin Corbin. “North Carolina’s reputation as a military-friendly state grows stronger thanks to today’s decision and we welcome these new jobs and investment.”
