MOCKSVILLE
Davie County and Mocksville officials approved last night up to $370,000 in economic-development incentives for Ingersoll Rand.
The incentives will go for a consolidation that could mean an $18.5 million investment in the company's Mocksville plant and could bring 20 jobs.
The company is consolidating part of its integrated compressor-manufacturing operations and will move equipment from its plant in Pueblo, Colo.
The company won't get any money until after the equipment is installed at the plant, officials said.
The town of Mocksville will provide up to $148,000 in incentives, and Davie County will provide $222,000.
Ken White, a member of the Davie County Board of Commissioners, said the investment is welcome news at a time of economic uncertainty.
"Y'all have been a corporate asset and you honor us with your investment," he said.
Ingersoll Rand makes air compressors, tools, fluid handling and other products and employs 64,000 people around the world.
The plant in Mocksville has operated since 1965 and at one time, had about 600 employees.
The consolidation is a reversal of sorts for Ingersoll Rand, which has conducted major job cuts in November, February and March, affecting 225 jobs in Mocksville.
About 110 of those jobs were related to the outsourcing of its sheet-metal business, and the others were related to declining sales and reductions in production volume.
The company is also moving part of its production operations from the town of Davidson to Mocksville.
The move would add about 100 jobs in Mocksville, said Ray Lewis, the vice president of human resources for the company's global operations and product management.
Mike Bryant, the manager of the Mocksville plant, said about 275 people work at the plant.
Once the consolidation is completed, about 300 people will work at the plant, he said.
Lewis said that the consolidation should be complete by the first week in September.
■ Michael Hewlett can be reached at 727-7326 or at mhewlett@wsjournal.com.
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