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The eBearing News
November 19, 2004
Timken Named Lincoln's
2004 Industry of the Year
copyright © 2004 eBearing Inc.
The Timken Company (USA) has been named 2004 Industry of the year by the Lincoln Economic Development
Association (LEDA, Lincoln County, North Carolina).
Timken's Lincolnton Bearing Plant (actually located in nearby Iron Station) opened in 1979,
primarily to produce low-volume to medium-volume industrial bearings.
Today, the Lincolnton plant is also Timken's primary facility for wheel hub bearings, after major
investments in plant and equipment, adding
substantial manufacturing capacity and dozens of new jobs in recent years. The plant currently employs
just over 650 workers.
Lincoln County has approved a number of special economic incentive packages (primarily property tax
reductions -- up to 75%) to keep the Lincolnton plant competitive with other Timken facilities vying for
production investment.
One industry analyst noted, "Kudos to Lincoln County. They understand what most municipalities and
even most Timken employees do not -- that is, each plant is constantly in competition with other
plants for investment dollars.
Every company only has so much money to go around, and it'll go where it makes the biggest difference."
North Carolina defines the economic needs of its counties by tiers; although Lincoln County is a
Tier 4 (1 being worst, 5 being best) and not able to offer the level of incentives available to a
deeply depressed Tier 1
county, it has still worked vigorously to keep employment in its local manufacturing economy,
encourage growth, investment, and business-friendly atmosphere.
Lincoln County's unemployment, currently running around 7%, reflects the area's hard-hit
history as heavily dependent on the now-devastated U.S. textile industry. As that entire industry
has fallen on hard times, with most jobs now going overseas, Lincoln County has increasingly focused
on retaining and attracting basic manufacturing industries.
Lincoln says is not trying to be a high-tech wonderland or hotbed of nanotechnology or biotechnology.
Instead, by focusing on, "what we do best," the area has been able to weather the recent economic downturn
better than most. During the recent recession, Lincoln County lost the least number of jobs, 700, of any
county in North Carolina.
North Carolina and Lincoln County economic development officials have gone to great lengths to
attract and retain business, particularly basic manufacturing.
For example, they emphasize North Carolina is a right-to-work state, and Lincoln County is strongly non-union;
there is not one unionized company in Lincoln County.
The Lincoln Economic Development Association is a private, nonprofit corporation charged with facilitating
industrial, office and commercial development in Lincolnton, the surrounding area, and Lincoln County.
Its mission is to foster an economic environment that promotes an increased tax base and enhances the
standard of living by retaining and expanding and recruiting basic industries.
The Lincoln County Industry of the Year award is presented by LEDA to, "promote and highlight the
contributions and exemplary corporate citizenship of existing industry in Lincoln County."
The award is based on four criteria:
- Made a positive impact in Lincoln County within the last year.
- Be involved with the Lincoln community through direct
financial, time and/or other significant contributions.
- Be a leader in their field
and have produced a positive performance during their last fiscal year.
- Maintain the highest standards of conduct in working with the community,
government, other business and their own employees.
The award noted Timken has a 25-year history as a corporate citizen in Lincoln County, far beyond
its continuing growth and commitment to the Lincolnton Bearing Plant.
During that time, the award ceremony noted, "Timken has set the standard for corporate citizenship
in the county. The Timken Foundation has collectively given over $5.5 million to the
Lincoln community. Organizations such as Amy's House [for victims of domestic violence], Gaston
College [most recently to build a Science and Technology Center], and the East Lincoln
Library [most recently to the East Lincoln
Branch Library Furnishing Fund] have benefited from the company's generosity." The Foundation
also gave $1.3 million to Lincoln County Schools to establish a School of Technology.
The award went on to say, "Timken employees are also very involved in community activities, donating
countless hours to the United Way, Relay for Life, Communities in Schools, Literacy Council,
American Red Cross, and many others."
LEDA Chairman, Harold Howard, said, "From the company's tireless involvement in community activities
and organizations, to their generous financial contributions, to their exemplary business performance
and conduct, The Timken Company embodies a model corporate citizen."
Lincolnton has also received a variety of other awards for citizenship and operations. For example, in
1998, Timken Lincolnton was given the North Carolina Award of Excellence in Waste Reduction by
Governor James B. Hunt.
The plant's recycling and reuse programs cut water and power use, while also reducing
outbound waste streams by more than 32.5 million pounds every year.
2004 is the third Industry of the Year award. In 2002, the first award went to Vermont American, Now Robert
Bosch Tool. In 2003, the second award went to R-Anell Housing.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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