Caterpillar Invests Billions in New Sanford Facility, Creates Thousands of Jobs
Caterpillar Inc. is investing approximately $1 billion in a new Sanford manufacturing facility that will create more than 1,950 full-time jobs, according to an announcement from the company.
The new facility will expand manufacturing capacity for Caterpillar's growing Cat Compact business and increase production of compact track loaders and telehandlers, equipment used in construction, landscaping, agriculture, and material handling.
Caterpillar said the plant will be a modern, technology-enabled manufacturing operation incorporating advanced manufacturing technologies, automation, digital production systems, and integrated logistics. The company chose North Carolina for the facility due to its existing presence in the state, the strength of the local workforce, and the opportunity to build on its manufacturing expertise and operations in Sanford.
The announcement marks another major expansion for Caterpillar in Lee County, following a 600-job expansion at its existing facility announced in May. The company is committing to at least $1.002 billion in net new taxable investment over approximately five years and more than 1,950 full-time jobs. The projected average annual wage of $65,528 is above the Lee County average wage.