Date: 2013-08-01

American Roller Bearing Receives NC Stimulus

American Roller Bearing of North Carolina Inc. (USA, a division of American Roller Bearing) plant in Morganton, North Carolina, will receive a three-year incentive and stimulus package, following a public hearing earlier this month.

The ARB Morganton plant has been working on a 65,000 square foot addition.

Following a public hearing held during Morganton's June 1 city council meeting, approval was given for a multi-tiered incentive package.

For the next three years after ARB's expansion is completed, any additional property taxes it might incur will be automatically reduced by 70%. In adition, ARB is receiving a direct bottom-line tax credit of $150 for each new job created, up to 40.

American Roller Bearing is headquartered in Pittsburgh, Pennsylvania but its manufacturing facility is in Morganton.

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