DAVIDSON MSC Industrial Supply Co., a national distributor of metalworking and industrial supplies with $2.7 billion in annual revenue, celebrated the opening on Tuesday of its Davidson co-headquarters overlooking Lake Norman.
The six-story, 180,000-square-foot building already houses about 160 workers, including 125 who moved in August from the companys headquarters in Melville, N.Y., said Douglas Jones, MSC vice president for global supply chain operations.
MSC expects about 200 employees in the building by years end and 400 within five years, Jones said. The building has room for 750 employees.
The company eventually plans a second phase on its Davidson campus that would include another 180,000-square-foot building and a parking garage.
The state awarded MSC a Job Development Investment Grant. If the company meets annual job creation and capital investment targets over 12 years, the grant could yield as much as $11.7 million.
The company also was awarded a grant worth up to $1.05 million from the states One North Carolina Fund.
MSC distributes at least 1 million industrial products from about 3,000 suppliers to about 300,000 customers in the United States and Canada.
MSC also helps companies manage inventory. It provides custom vending units, for instance, that require an employee badge to operate and that automatically reorder supplies with no human intervention when an item is out of stock.
Erik Gershwind, MSC president and chief executive officer, said his grandfather, Sid Jacobson, founded the company 70 years ago by selling tools out of his car in New York City.
The company invested more than $31 million in the Davidson co-headquarters.
Corporate jobs in the Davidson building are in management, information technology, accounting, human resources, product management, digital marketing and communications. Jobs average about $79,000 a year, plus benefits.
MSCs stock closed at $80.57 on Tuesday, up 27 cents, or 0.34 percent.
Marusak: 704-987-3670; Twitter: @jmarusak
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