The purpose of this grant is to provide funding to Davie County to support an expansion of Gildan Yarns, LLC, (the ‘Company’) a leading supplier of cotton and cotton blend apparel. The Company will construct two new yarn facilities, one in Mocksville (Davie County) and one in Salisbury (Rowan County). The Company will also expand its spinning facility in Clarkton (Bladen County). The expansion will result in the creation of 501 new jobs by December 31, 2016, with an average annual wage of $32,303 plus benefits. The new jobs would be located as follows: 292 jobs in Davie County, 184 in Rowan County, and 25 in Bladen County. The total capital investment of the Company is expected to be $40 million in real property and $72 million in personal property. Golden LEAF funds will be used to purchase equipment that would be leased to the Company at a rate that would require the company to repay the full value of the equipment, plus interest.
