The company makes its money slowing down, but Performance Friction Corp. is accelerating business in York County.
Performance Friction is expanding its Clover operation by investing $7.9 million in new building and equipment for the next five years. The expansion will create 100 to 110 new jobs.
“The equipment and building is necessary for us to modernize our manufacturing operations to continue to compete on a global basis,” said Tom Davis, executive vice president and treasurer of the company.
Both company sites in Clover and Gastonia, N.C., were evaluated for expansion.
“The incentives being offered by York County have been key in our decision-making process for expanding in York County,” Davis said.
On Tuesday night, York County Council finalized a fee agreement for the company. The county regularly works out fees in place of taxes as incentives to large businesses locating to or expanding in the county. Lancaster, Chester and other counties work the same way, also using state economic incentive options.
The York County decision was made the same day Chester County Council finalized a rezoning and economic incentive to bring ShayoNano, a nanomaterial manufacturer, to Chester with a $14.7 million investment and 40 new jobs.
The Performance Friction site at 83 Carbon Metallic Hwy. in Clover primarily makes disc brake pads, calipers and rotors.
“Performance Friction is a manufacturer of disc brake components for automobiles, trucks, off-road vehicles, race cars,” Davis said. “We sell our components worldwide.”