Winston-Salem is getting the new Caterpillar plant, the Winston-Salem Journal has learned.
Gov. Bev Perdue is expected to make the announcement at 1 p.m. Friday at Forsyth Technical Community College's campus off Silas Creek Parkway.
"I am very impressed," said Beaufort Bailey, a Forsyth County commissioner. "I feel good about this. I think Caterpillar is going to be here for a long, long time."
The city beat out the other two finalists for the plant, Montgomery, Ala., and Spartanburg, S.C.
The $426 million manufacturing plant will have 392 full-time and 118 contract employees.
The city and Forsyth County have offered a combined $23.5 million in incentives to Caterpillar. The state could offer up to $50 million in incentives, according to local sources.
"I think it's the beginning of some things to come," said D.D. Adams, who represents the North Ward on the Winston-Salem City Council. "It just shows again if we all continue to work together anything is possible."
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