Reuel Incorporated to Invest 2 Million Dollars Creating 50 jobs

Manufacturer of insulating components for medium-voltage electrical equipment will expand in Wayne County.

September 16, 2007

WAYNE COUNTY NC NEWS -- Reuel Incorporated, a manufacturer of insulating components for medium-voltage electrical equipment will expand in Wayne County, creating 50 jobs and investing $2 million during the next three years.

Reuel's President, Larry Davis said, "When we decided to locate Reuel here 20 years ago, Goldsboro was chosen for many reasons. Those reasons still exist today. Goldsboro is a medium-size city with a lot of big-city attractions, there is a good labor pool with technical talent and there are numerous colleges and universities located within commuting distance. Everyone at the state and local level has always been very helpful. We are proud to call ourselves North Carolinians."

As part of the expansion, Reuel Incorporated is buying the Traction Power Division of Impulse Manufacturing and will move that business unit to its Goldsboro facility. While wages will vary by job function, the average weekly wage of the new jobs will be $1,017 plus benefits, which is higher than the Wayne County average weekly wage of $519 not including benefits.

Reuel Incorporated also accepted a $100,000 One North Carolina Fund grant to help in the company's expansion. The One North Carolina Fund assists in industry recruitment and expansion by providing financial assistance through a local and state government fund match. Grants are contingent on business projects stimulating economic activity and creating new jobs within North Carolina.

Governor Easley releasing the following statement on Reul's announcement said, "Reuel Inc.'s decision to expand in Wayne County is proof that our business-friendly climate allows existing businesses to grow and creates new jobs for our state. We will continue to make the necessary investments so North Carolina remains a national leader for business location and expansion."

Partners who helped make this economic development possible include:

• N.C. Department of Commerce
• Wayne County
• Wayne County Development Alliance
• The City of Goldsboro

For more information on jobs availability, contact Reuel Inc., Human Resource Manager, 200 W. Dewey St., Goldsboro, NC 27530. Telephone (911) 734-0460