The purpose of this grant is assist Rockingham County with purchasing equipment that will be leased to Mohawk Industries, a manufacturer of flooring products. The company is consolidating production from two plants into its Rockingham County plant which will create 105 jobs and retain 178 jobs in the County. The retained jobs were at risk of being lost if the consolidation occurred at another Mohawk Industries facility outside of North Carolina. The average annual wage of the new jobs is expected to be approximately $36,610, plus benefits including at least 50% of the cost of employee-only health insurance. The County average wage is $34,446. Rockingham County’s unemployment rate is 6.2% compared to the State rate of 5.4%. The lease will require the company to repay the full value of the equipment plus the applicable federal rate of interest.
