Malt-O-Meal to create 80 more jobs in Randolph County

November 18, 2010

RANDOLPH COUNTY – Malt-O-Meal, a national cereal manufacturer, will expand its Asheboro facility, creating 80 jobs and investing $135 million during the next three years, Gov. Bev Perdue announced on Thursday.

Employing 200 workers in Asheboro, Malt-O-Meal, Randolph County’s and Asheboro’s largest taxpayer, has invested more than $140 million in the county already. The company, which has been at its facility on Bank Street in Asheboro for four years, is making the largest investment ever in Randolph County, said Bonnie Renfro, president of the Randolph County Economic Development Corp.

“We are on our way to becoming the breakfast capital of the world,” Renfro said Thursday. “That’s a good designation. They’ve met and exceeded every commitment they have made to our community. They are a great corporate citizen.”

The Asheboro City Council and Randolph County Board of Commissioners on Tuesday agreed to a combined incentives package of $3.16 million that will be paid out in no less than eight annual installments, provided Malt-O-Meal meets job creation and investment performance requirements. The governor’s office said Malt-O-Meal’s expansion was made possible in part by a $350,0000 grant from the One North Carolina Fund.

“I want to congratulate Malt-O-Meal for their expansion and new jobs,” Perdue said in a statement. “This is the fourth jobs announcement in which I have participated this week, continuing proof that our formula is working.”

Renfro said the company could break ground on the expansion in early 2011. She said the company also is expected to begin adding jobs next year. Salaries will vary by job function, but the average annual wage for the new jobs will be $34,508 not including benefits, the governor’s office said. 

Company officials say the company’s plant in Asheboro is the newest, most modern cereal plant in the United States. Founded in 1919 in Minnesota, Malt-O-Meal has expanded to produce varieties of hot cereal, oatmeal and ready-to-eat cereal.

The company has manufacturing facilities in Minnesota, Utah and North Carolina. 

For more information concerning job opportunities with Malt-O-Meal, visit malt-o-meal.com.

Source: High Point Enterprise - It’s official Malt O Meal to expand in Randolph