Midway Aircraft Instrument Corporation is relocating to Monroe, government officials said Wednesday, bringing some three dozen jobs.
The company, currently based near Teterboro Airport in New Jersey, said it will invest $2.3 million in a Monroe facility and bring 36 jobs, paying an average of $50,000.
The city of Monroe agreed to pay $20,000 worth of incentives last month to help lure the company, Monroe-Union County Economic Development official Chris Platé said.
We carefully studied many potential locations for our business. Our decision to relocate to Monroe, North Carolina is due to the favorable business economics, the international airport in nearby Charlotte and the opportunities presented by the growing aviation community there, said Midway president Terry Bacola, in a statement.
He said cost reductions related to the move will allow the company to expand and compete in more markets.
Portillo: 704-358-5041 On Twitter @ESPortillo
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