MAYODAN — Sturm, Ruger & Co. Inc. said Monday it plans to add 60 jobs at its Mayodan firearms manufacturing plant, most likely related to absorbing productions from the company's acquisition of the Marlin brand.
On Sept. 29, Ruger agreed to pay $30 million for the Marlin business from the bankrupt estate of Remington Outdoor Co. Inc. When it announced Nov. 24 the completion of the acquisition, Ruger said it ended up pay $28.3 million.
The company said Monday it will spend $10 million on capital investments over three years with the expansion.
A news release from Gov. Roy Cooper's office did not specify what was driving the expansion. Ruger officials could not be immediately reached for comment on the expansion.
Chief executive Christopher Killoy told analysts in October that the Mayodan plant is gaining a significant portion of the Marlin production. He said the plan is to “re-introduce Marlin rifles in the latter half of 2021.”
Killoy said in September that "the value of Marlin and its 150-year legacy was too great of an opportunity for us to pass up. The brand aligns perfectly with ours and the Marlin product portfolio will help us widen our already diverse product offerings.”
Mickey Wilson, Ruger's vice president of the Mayodan operations, said the expansion "will help us to grow our business and further expand our diverse lineup of rugged, reliable firearms, while at the same time expanding our presence in Rockingham County.”
The press release lists Ruger with 490 employees at the plant. Ruger opened the $26 million plant in 2013.
Salaries for the new jobs are expected to average $44,033 per year. The new positions will include production associates and supervisors.
By comparison, Rockingham County’s overall annual wages average $35,146.
The company has been made eligible for up to $150,000 in performance-based economic incentives from the One North Carolina Fund, which requires matching local incentives.
Rockingham Board of Commissioners are expected to approve Monday night a performance-based tax incentive worth up to $234,799, according to county manger Lance Metzler.
"We only know the company has seen considerable demand for its products, resulting in the search for a location to expand capacity," Metzler said.
"They are such a good company to have as part of our community and offer some outstanding job opportunities to our residents with good-paying jobs."