CONCORD S&D Coffee Inc. announced a $97 million expansion on Monday thats expected to create 200 local jobs over five years.
Founded in 1927 in Charlotte, the privately held company started by providing fresh roasted coffee to local and regional grocery stores. It now produces roasted whole bean and ground coffee, specialty coffees, hot chocolate, tea and other products. The company supplies its products to restaurants, hotels, vending machines and offices.
Headquartered in Concord since 1929, the company employs 613 workers at seven locations across the state and is among Concords top employers. Due to what it called significant gains in market share, S & D said its sales grew 400 percent over the past 10 years.
Our business continues to grow and expand at a time when many companies have struggled, Ron Hinson, S&D Coffees chairman, president and CEO said in a news release. We considered locations in other states for this new round of expansion, but decided to stay in North Carolina and the Concord community.
Salaries will vary by job, but the average wage of the new positions will be $36,311, Gov. Bev Perdues office said. Cabarrus Countys average wage is $32,292.
The state awarded the company a grant of up to $300,000 from its One North Carolina Fund, which requires a local match.
Also, the state Economic Investment Committee voted to award the company a job development investment grant. The company is eligible to receive a grant equal to 70 percent of the state personal income withholding taxes derived from the creation of new jobs for each of the nine years the company meets annual performance targets. The grant could yield as much as $1.56 million in benefits for the company, Perdues office said.
Details about S & D job openings: 1-800-950-3121, extension 5063, www.sndcoffee.com.