I
I
_ _
^■111
iw
C ^ fccppet, fit&st Ore^tiwitte, tgur«l I
^L. XXVI
Eden, N. C., March 4, 1968
NO. 17
$5 Million To Be Spent For Expansion
■
Ui:
-
?■•*>-i.
m
iS
k^; ' '
New aerial photo shows Blanket and
'^lose to 1,400 people in the Draper community
factoring blanket material which is finished
sheeting finished at the new Sheet Finishing
Sheeting Mills which furnish jobs for
of Eden. Both are greige mills, manu
al the Central Finishing Mill and
Mill.
$27 Million Disbursed In Eden In 1967
Eieldcrest Mills’ operations added
®''er $27 million to the economy of
■^den in 1967. Company records show
‘dat, in the Eden area alone, $27,280,000
disbursed for payrolls, taxes, land,
“hildings, machinery and equipment.
The major contribution to the pros
perity of Eden was the company’s pay
rolls of $23,139,000 paid tO' the 4,650
■lieldcrest employees in the area.
Property taxes paid to Leaksville,
hpray. Draper and the Meadow Greens
^anitary District totaled $192,000. The
Company’s Rockingham County taxes
J'^ere $366,000; and the total property
axes paid in Rockingham County, in
cluding city and county taxes, were
W58,000.
Eieldcrest in 1967 paid $1,110,000 in
^ocial Security taxes and payroll taxes
unemployment insurance for its
hden employees.
Py law, the company pays half and
Jhe employees half of the Social Security
®Xes; but the company pays 100% of
the taxes to provide the state-adminis
tered compensation for eligible em
ployees when out of work.
The company’s expenditures for land,
buildings, machinery and equipment in
the Eden area amounted to $2,473,000,
making a total of $30,268,000 in capital
expenditures in the Eden area since
October 1, 1953, when Fieldcrest Mills,
Inc. was organized.
In addition to the over $27 million
pumped into the local economy by di
rect payments, large sums were dis
tributed in the form of fringe benefits
to the 4,650 active employees and their
dependents and for pensions to the com
pany’s retired employees, a majority of
whom live in the Eden area.
The expenditures made for purchases
of goods and services from local firms
are not included, nor do the figures
include money paid out at other manu
facturing locations or for sales activi
ties. Expenditures for raw materials
also are excluded.
A $5 million expansion at the Fieldcrest
Towel Mill in Fieldale, Va., was an
nounced by G. W. Moore, president of
Fieldcrest Mills, Inc.
This expansion program will involve
additional terry looms to produce high
quality, highly styled terry towels and
additional yarn manufacturing facilities
to provide yam for the additional looms.
The first lot of looms has already been
received, and it is expected that all the
looms involved in the expansion pro
gram will be operating by the end of
May.
Construction will begin immediately
on the space to be occupied by the addi
tional yarn manufacturing facilities, and
it is expected that the yarn manufactur
ing facilities will be in operation by
early fall.
In addition, work is already under
way on a new three-story addition to
the present east side of the Finishing
Building which will provide space for
cutting, sewing, warehousing, etc., of
the additional towel production.
The total expansion program will
provide approximately 250 additional
jobs upon completion. The Fieldale
Towel Mill now employs approximate
ly 1,300 people.
mm.
-i
4 /
£
tm
90th BIRTHDAY—J. Platt Turner of
Eden, a retired Fieldcrester, recently
celebrated his 90th birthday. He was
one of first employees to retire when
the company Pension Plan was started.