North Carolina will host a new plant planned by heavy-equipment manufacturer Caterpillar Inc. that will employ more than 500 full-time and contract workers.
The earth-moving and agricultural equipment company said Friday it will build a factory in Winston-Salem that will employ about 390 full-time workers in five years. Caterpillar also expects to need another 120 contract workers at the plant.
State officials approved a package of tax rebates, credits and grants worth up to almost $17 million to Caterpillar if the company meets and keeps hiring goals for 11 years. Winston-Salem and Forsyth County offered another $23 million, making the total worth about $40 million.
Sites in South Carolina and Alabama had been in consideration for the plant.