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High Point Council approves $100,000 incentive package for Cascade Die Casting expansion
Summary
The City Council approved a $100,000 performance-based incentive over five years for Project Gamble — an expansion by Cascade Die Casting — tied to an $8 million investment and 43 new jobs in High Point.
The High Point City Council on a voice vote approved performance-based incentives totaling $100,000 over five years to support “Project Gamble,” an expansion by Cascade Die Casting and Machining at 1800 Albertson Road and 501 Old Thomasville Road.
The incentives are tied to a company commitment of just over $8,000,000 in real and personal property investment and a pledge to add 43 jobs over five years with an average wage of $61,554, city economic development director Peter Bishop said. “This project represents an existing industry expanding operations here in High Point,” Bishop said. He told the council the proposed local incentive is consistent with the city’s job-creation and industrial policies and that Guilford County recently committed $57,824 while NC EDGE Community College committed $64,500 for customized training.
The incentive agreement is performance-based, city staff said, and the site is served by the city’s water, sewer and electric systems. Bishop said the company was considering its headquarters location in Michigan and the local incentives and training commitments were part of the city’s effort to retain and grow the facility in High Point. “This project will take place at two of our High Point locations,” he added, naming the Albertson Road and Old Thomasville Road sites.
Jason Antis, general manager of Cascade Die Casting’s High Point operations, described the company’s local footprint and customer base, saying the firm employs roughly 400 people across divisions and is aiming to grow. “We plan to grow by 43 members, which includes engineering, tool makers, furnace tenders, quality engineers, human resources, and maintenance technicians,” Antis said, adding that many of the new positions would pay above the county average.
Mayor Cyril Jefferson moved to approve the incentive package and Council Member Johnson seconded; council approved the motion by voice vote. Council directed staff to finalize documents and authorized the appropriate city officials to execute the agreement.
The project — presented as an immediate timeline — is intended to sustain and expand local manufacturing jobs in South High Point and to leverage state and county training dollars to support worker upskilling.
