Fit Precast, a manufacturer of industrial concrete products, plans to establish its headquarters and production facility in Gastonia, North Carolina. The company’s investment of $102 million is expected to create 125 new jobs in Gaston County.
Governor Josh Stein commented on the announcement, stating, “North Carolina continues to lead the way in advanced manufacturing, and this announcement for Gaston County is a testament to our skilled workforce and business-friendly climate. This project is the example of how forward-thinking North Carolina companies have a vision for the future and why North Carolina is the top state for business.”
Fit Precast will manufacture precast concrete and piping products used in stormwater management, transportation, and utility construction. The new 154,000-square-foot facility will support both administrative and manufacturing operations.
Matt Goreski, President of Fit Precast, said, “The demand for resilient, American-made infrastructure has never been greater, and North Carolina is the ideal place to meet that challenge. This flagship headquarters and production facility is the most advanced precast concrete manufacturing site in the country; investing in both leading-edge technology and the people of North Carolina with high paying, meaningful careers. The Gaston County EDC and the State of North Carolina consistently went above and beyond to secure this project, we would like to thank them for making this our new home.”
N.C. Commerce Secretary Lee Lilley noted: “Fit Precast’s project reflects the power of collaboration and the confidence businesses have in North Carolina’s economic future. As our manufacturing economy continues to grow, it benefits from the partnerships of innovative companies that are creating opportunities for communities to thrive.”
The average annual salary for these new positions will be $102,168—significantly higher than Gaston County’s current average salary of $52,180. The jobs could generate an annual payroll impact exceeding $12.7 million locally.
To support Fit Precast’s operation in North Carolina, a Job Development Investment Grant (JDIG) was approved by the state’s Economic Investment Committee. Over 12 years, this grant could help expand the state economy by $530 million. The agreement authorizes potential reimbursement payments up to $2.3 million over 12 years if job creation and investment targets are met.
According to projections included with JDIG projects like this one, every dollar spent by the state could return $2.70 in revenue—a projected return on investment of 170 percent after accounting for reimbursements.
Because Fit Precast selected a location classified as Tier 2 under North Carolina’s economic tier system—a measure designed to direct resources where they’re most needed—the company’s JDIG agreement also directs up to $255,900 into an Industrial Development Fund Utility Account intended for rural infrastructure upgrades across North Carolina.
N.C. Representative Donnie Loftis stated: “Fit Precast’s commitment to Gaston County is a powerful vote of confidence in the hard-working people of the region. These 125 new jobs will bring stability and opportunity to families across our district. I’m proud to support efforts that keep Gaston County moving forward.”
Several organizations contributed partnership or support toward this project including: North Carolina Department of Commerce; Economic Development Partnership of North Carolina; General Assembly; Community College System; Gaston College; Railroad Company; Norfolk Southern; Duke Energy; Enbridge; Gaston County; Gaston County Economic Development Commission; City of Gastonia.
