Monitoring the economic pulse of the Triad
Local governments approve incentives for Ralph Lauren
As expected, High Point City Council and the Guilford County Commission have approved incentives for an expansion by Ralph Lauren Corp. The city council voted on Monday to approve $2 million and the county commission voted on May 11 to approve $1.2 million.
High Point Economic Development Corp.
President Loren Hill said the state of North Carolina is considering contributing an unspecified amount of incentives to enhance the package.
The company is considering creating 500 new jobs paying an average salaries of $31,000, Hill said.
Since 1991, the company has had a major apparel distribution center in High Point, and in 2007 it expanded by opening a contact center. Ralph Lauren is operates five locations in High Point and is the city’s fourth largest employer.