Raleigh, N.C.
The expansion of Hoffman & Hoffman, Inc., a major player in commercial HVAC systems, promises to inject vitality into Guilford County’s economy. The company announced plans to create 131 jobs and invest $40 million to enhance its Greensboro headquarters and manufacturing facilities.
Governor Josh Stein expressed appreciation for the company’s decision to deepen its presence in North Carolina. “Companies that do business here know better than anyone the benefits of operating in our state,” said Governor Josh Stein. He highlighted the state’s skilled workforce and strong infrastructure as key factors in their growth.
Hoffman & Hoffman (H&H) has been a cornerstone of the HVAC and building automation industries since 1947. The employee-owned firm, headquartered in North Carolina, serves clients across the southeastern U.S. and Europe with advanced HVAC and filtration systems, as well as building controls technology. Their expansion will unify corporate operations and bolster warehouse capacity.
“The Hoffman family of companies continues to grow because our employee-owners never lose sight of the people we serve,” said Jim Bingham, CEO of Hoffman & Hoffman, Inc. He attributed the company’s success to a customer-centric approach.
N.C. Commerce Secretary Lee Lilley welcomed the development, emphasizing the need for a supportive business environment. “Manufacturers like this need a strong and stable business climate to be successful,” said Secretary Lilley.
The new positions will have an average salary of $72,176, surpassing Guilford County’s average wage of $60,195. This could result in an annual payroll impact exceeding $9.4 million for the area.
The project is backed by a Job Development Investment Grant (JDIG), with the state’s Economic Investment Committee estimating a $487 million boost to the economy over 12 years. The JDIG agreement allows for up to $1,110,600 in reimbursements, contingent upon the company meeting specific job and investment targets, verified by state departments.
With a projected 129 percent return on public investment, the state stands to gain $2.29 in revenue for every dollar spent. JDIGs consistently generate net positive tax revenue for the state treasury.
As Hoffman & Hoffman expands in Guilford County, a Tier 2 region in the state’s economic tier system, $123,400 from the JDIG will be allocated to the Industrial Development Fund – Utility Account. This fund aids rural communities in upgrading infrastructure to attract business, benefiting economically challenged areas statewide.
Senate President Pro Tempore Phil Berger praised the development as a triumph for both Guilford County and North Carolina. “These good-paying jobs are further proof that North Carolina has the right formula for companies to thrive,” said Berger.
Contributors to this project include the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, and other local entities such as Guilford Tech Community College and Duke Energy.
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