UPS to spend $316 million on 2 North Carolina projects

UPS Inc. (NYSE:UPS) will grow its presence in the Greensboro, North Carolina, area by expanding its hub operations and building a package sortation center in nearby Graham at a cost of $316 million over a four-year period, North Carolina Gov. Roy Cooper’s office said Tuesday.

The project will create 592 jobs in Guilford and Alamance counties, according to the governor’s office. Projected wage scales will be well above the going pay rates in the counties, the office said.

The announcement comes less than a month after local authorities approved a “performance agreement” for UPS to build a facility at the North Carolina Commerce Park in Mebane, which is adjacent to Graham. UPS, which typically builds out a project in phases, will be operational at the new location much sooner than four years, according to a company spokesman.

UPS will receive state grants of up to $10.2 million over 12 years, the governor’s office said. Over that time, the project is estimated to add more than $1.4 billion to the state’s economy, the office said.