Rutherford County just scored big.
TMG & Haartz Solutions, a newly formed joint venture between Portugal-based TMG Automotive and Massachusetts-based Haartz Corporation, has announced a $51 million investment in the town of Bostic, North Carolina. The company plans to construct a state-of-the-art facility that will create 125 new jobs over the next five years, offering average salaries of $64,218—well above the county average of $46,673.
The new operation will manufacture advanced interior surface materials for automotive brands such as BMW, Ford, Mercedes-Benz, GM, Toyota, and Volvo. Backed by a performance-based Job Development Investment Grant (JDIG) from the state, the project is expected to generate more than $352 million in overall economic activity.
The announcement positions Rutherford County at the center of North Carolina’s growing automotive and advanced manufacturing corridor.
Why TMG & Haartz Chose This Location
The decision to build in Bostic was no accident. Rutherford County offers a strategic mix of affordable land, proximity to interstates and rail, and a skilled manufacturing workforce that draws from nearby cities like Forest City, Shelby, and Marion.
TMG & Haartz were also attracted by North Carolina’s reputation for business-friendly policies, infrastructure investments, and a coordinated recruitment effort by Rutherford County Economic Development, the North Carolina Department of Commerce, and EDPNC.
In addition, the site sits within reach of OEM facilities and supplier networks tied to the Charlotte and Upstate SC metros—connecting it to the larger I-85 advanced manufacturing spine stretching from Atlanta to Raleigh.
Impact on the Area
For a rural county like Rutherford, a $51 million investment isn’t just another announcement—it’s a game changer.
- GDP Boost: Rutherford County’s total GDP is estimated at $2.1 billion. This single project represents about 2.4% of the entire county economy.
- Employment Surge: With a labor force of ~27,000, the addition of 125 new jobs is a 0.5% employment increase from one project alone.
- Higher Wages: The average salary of $64,218 is 37% higher than the county’s median income, helping to raise wage benchmarks across the board.
- Regional Ripple: The facility is expected to attract workers and suppliers from Cleveland, McDowell, Burke, Polk, and even Gaston and Henderson Counties—bringing new business to Tryon, Shelby, Marion, and Morganton.
It’s not just a win for Bostic—it’s a lift for the broader western Piedmont and Foothills region of North Carolina.
What It Means for Housing and Retail Real Estate
New industry means new people—and that spells opportunity for investors in both workforce housing and neighborhood shopping centers.
With 125 high-paying jobs coming to a town of fewer than 400 residents, nearby communities like Forest City, Spindale, Rutherfordton, and Shelby will likely see increased demand for:
- Multifamily rentals and single-family homes for relocating workers
- Grocery-anchored retail centers, quick-service restaurants, and convenience retail
- Medical, banking, and service providers to meet growing population needs
Real estate in Rutherford and surrounding counties is still priced well below North Carolina’s urban markets—offering attractive entry points for investors seeking yield, stability, and long-term appreciation tied to real economic growth.
At NC Capital Group, we believe that tracking industrial momentum like this—early and often—creates a real advantage. And in Rutherford County, that momentum just kicked into high gear.
Sources
Eddie Coleman, CCIM, is the Principal Investment Officer at NC Capital Group. With over 40 years of experience in Commercial Real Estate in North Carolina and South Carolina, his experience spans multifamily, retail, office, historic adaptation, etc. In addition to advising clients and brokering transactions, he has extensive knowledge of North Carolina through experience in corporate site acquisition, development, capitalization, HUD financing, etc. He holds the prestigious Certified Commercial Investment Member (CCIM) designation.