Revenue grew 53% year-over-year to NOK 244 million, driven by strong demand in hydrogen infrastructure applications.Salisbury Mayor Karen Alexander in a news release congratulated Hexagon Agility for its “ continued success and commitment to expansion of their business. We appreciate their continued investment in our community.” “Hexagon Agility originally selected Rowan less than seven years ago and to make the decision to expand here shows how mutually beneficial this partnership has been. “We are ecstatic that Hexagon Agility has chosen to stay within Rowan County to expand its operations,” County Commissioners Chairman Greg Edds said in a news release. Modeled with a 10-year horizon, Rowan County would retain an estimated $693,169 of new revenue. During the next five non-incentivized years, Rowan County will collect a total of $489,443 in revenue.
The county will retain $203,726 of revenue during this five-year period. The taxes are returned as a rebate after the company pays them.ĭuring the first five incentivized years of the grant, Rowan County will collect $814,906 in revenue and provide incentives totaling $611,180.
The Rowan County Board of Commissioners in March endorsed the expansion project by approving a tax incentives, which will have Rowan County return 75% of the company’s paid taxes over a five-year period. The company plans to add 113,000 square feet to the 204,000-square-foot building to accommodate its expansion. The California-based company, a manufacturer of compressed natural gas fuel systems, will use a $500,000 grant from the state to renovate the building it currently occupies at 1010 Corporate Center Drive in Salisbury.
“With this expansion, we are proud to create more local jobs and opportunities for our people, and deliver on our vision of clean air everywhere.” “We thank the Rowan EDC for the continued support and funding to expand our existing Salisbury facility to become the first truly vertically integrated natural gas fuel system manufacturing plant in North America,” Hexagon Agility President Seung Baik said in a news release. SALISBURY - Hexagon Agility will create 75 new jobs and invest $28 million over the next two years to expand its current facility in Rowan County, the Rowan Economic Development Commission and Gov. The company makes cells that fit behind the tractor cab in an upright position and those that can fit on the side like standard "saddle bag" configurations. Agility Fuel Systems opened a manufacturing facilty to build Compressed Natural Gas fuel cells for tractor trailer engines. LAKEY / SALISBURY POST The use of computers and technology allow employees like Jason Sales to operate equipment.
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