YG-1 America to Open $14M Tool-making Facility

YG-1 America Inc. will bring 53 jobs to Charlotte over the coming three years as it opens an advanced manufacturing operation.

The $13.8 million facility will make cutting tools with average annual wages of more than $63,000, plus benefits.

"This makes Charlotte an ideal location for recruiting, retaining and discovering needed talent in our highly competitive sector," says H.K. Song, president of parent company YG-1 Co. Ltd., based in Incheon, South Korea. Song made the comments in a news release about the company's plans for Charlotte.

The company will be located at 11001 Park Charlotte Blvd. in the Steele Creek area. The project gets the promise of $135,000 from the One North Carolina Fund. Other local incentives weren't disclosed.

The 22-year-old company makes drill bits, taps, end mills, spade drills and rotary tooling.

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