German Adhesives and Finishes Company Heading To Wadesboro

Loba-Wakol, LLC, a supplier of adhesives and finishes to the wood and resilient flooring industry, announced today it would be relocating and expanding its North American headquarters from Charlotte, N.C. to Wadesboro, N.C., creating 24 new jobs and investing $6.6 million. 

Loba-Wakol, LLC is the North American subsidiary of German market leaders Loba and Wakol who have partners and subsidiaries in over 40 countries around the world.

The company will be relocating to an existing 160,000 square foot building in the Anson County town of Wadesboro, 50 miles southeast of Charlotte. Initially, the new facility will house administrative, technical, sales and warehousing functions,  with plans to add manufacturing capability within 3-5 years.

Loba-Wakol looked at more than 65 buildings in the Carolinas before choosing Wadesboro, according to company COO Ashley Carter. Primary selection criteria were a skilled and ready workforce, an existing facility with highway/interstate access and high visibility, and proximity to a major metro area with an international airport. "Wadesboro was at the top of our list on all counts."

"We have been working with the EDPNC and the company on this project since late last year," indicated AnsonEDP executive director John Marek. "We felt we had an available building that was a good fit, but knew it was very competitive across two states. We absolutely needed Anson County and the Town of Wadesboro to step up and help us close the deal and they did." 

Known for several months and through various public hearings as Project Compounder, Loba-Wakol was awarded a $143,000 industrial tax grant by the Anson County Commissioners and a $110,000 industrial tax grant by the Town of Wadesboro. AnsonEDP also offered a $20,000 grant to assist the company with necessary upgrades to the building, which was formerly a JJ Haines distribution facility. 

"When Haines moved their warehousing operations from Anson County in 2018, there was concern the building, which is located on a highly visible stretch of US Highway 74, would remain vacant for a long time, but quality buildings in outstanding locations don't stay on the market, and here we are just a year later with this great announcement," said Marek who further remarked on an interesting subplot involving the JJ Haines back office staff who continued to work from part of the facility after the warehouse was closed. "We are also pleased to announce that a co-location deal has been struck between Haines and Loba-Wakol that will allow all 40 Haines employees currently onsite to continue to work from the facility for the foreseeable future." 

The average annual wage of the new jobs will be $43,750, compared to the countywide average wage of $33,358. "These are good jobs that will improve the standard of living for two dozen families in our community," noted Ross Streater, chairman of the Anson County Commissioners, "and along with the Borgstena announcement last week and the other announcements our economic development organization has made since the first of the year, show that Anson County is moving in the right direction and gaining momentum."