A Hilliard, Ohio-based company plans to open a cabinet and store fixture plant in High Point that will initially employ about 70 people.
OSF America is negotiating to purchase an existing 65,000-square-foot building at the corner of Armory Drive and Elon Place. If the deal is closed, the company will immediately begin an expansion project to double the building's size, according to OSF President Evarts English. Employment could double when the expansion is completed, he said.OFS makes wood shelves, cabinets, racks and other fixtures typically used in high-end retail stores. The company hopes to begin production in High Point by the end of the year, with the expansion completed within 18 months after that, English said.
OFS plans to use $7 million in industrial revenue bonds issued through Guilford County's Industrial Facilities and Pollution Control Financing Authority to acquire the building and finance the expansion.
The authority approved the use of the bonds Thursday. The plan has been approved by the state Department of Community and Economic Development.
To use the tax-free bonds, companies must agree that a majority of its workers will be from North Carolina and will be paid a wage higher than the state average for their industry.
OSF officials said they were attracted to North Carolina because of its skilled labor and resources relating to the manufacturing of wood products.