Monroe lands Midway Aircraft Instruments
Midway Aircraft Instrument Corporation will locate to a new facility in Monroe, creating 36 jobs and investing $2.3 million over the next three years.
The company is based in New Jersey. They overhaul, repair and perform scheduled maintenance on a wide range of aircraft equipment.
While salaries will vary by job function, the average annual wage will be $50,019, plus benefits, according to a statement released by the Governor's office Wednesday.
"We carefully studied many potential locations for our business," President Terry Bacola said in a statement. "Our decision to relocate to Monroe, North Carolina is due to favorable business economics, the international airport in nearby Charlotte and the opportunities presented by the growing aviation community there."
Monroe City Council approved an economic development incentive grant for the company last month.
"We're very, very pleased," Chris Platé, executive director of economic development and aviation, said. "It was a lot of hard work to get the company here and continued hard work to make sure they have a successful start up."
Their arrival "solidifies" the aerospace industry in the county, Platé said.
"We have a real competitive advantage in the southeast in recruiting aerospace companies," Platé said. "It's part of the community at this point and we're very, very excited that another company is joining us."
Midway fills a gap in the community since there is not another company here offering their service.
"(It) adds more breadth to the aerospace cluster," Platé said.
In addition to the grant from Monroe, Midway received $12,500 from the One North Carolina Fund.
"My first priority is creating jobs," Gov. Beverly Perdue said in a statement. "North Carolina has a skilled, trained workforce and strong business climate that continues to attract the leading aerospace and aviation companies."