Friday, January 23, 2009  |  Modified: Monday, January 26, 2009, 8:05am

Charlotte Business Journal - by Adam O’Daniel Staff writer

A Toronto gunmaker is moving its headquarters and manufacturing operations to Charlotte, creating up to 40 jobs.

Para-Ordnance Manufacturing Inc., a Toronto-based handgun company, plans to be in full operation by June, says company spokesman Kerby Smith.

The company leased a Pineville facility and estimates 35 to 40 jobs will be filled, mostly in manufacturing and machining.

Para Chief Executive Thanos Polyzos says the company wanted to establish a U.S. headquarters to be eligible for more military and law-enforcement contracts.

Para chose Charlotte over sites in four other states.

“Charlotte has the quality of life and labor supply we are looking for, plus a central location that makes travel easy,” Polyzos says in a prepared statement.

Para-Ordnance, founded in 1985, has built a reputation for improving the design and function of popular pistols.

The company’s manufacturing process includes computerized machining to create gun parts from raw stock.

Para guns on average carry a retail price of about $850.

Kit Cramer, Charlotte Chamber vice president of economic development, helped recruit the firm. She says no incentives were involved in the deal.

“They’re bringing good jobs at strong wages,” Cramer says. “Para was an excellent corporate citizen in Toronto, and we’re excited to have them in Charlotte now.”

The addition of new jobs comes at a time when unemployment in Mecklenburg County has increased to 8.1% from 5.4% a year ago, according to the N.C. Employment Security Commission.

Smith, the Para-Ordnance spokesman, says details on hiring, relocation timelines and other specifics won’t be released until the transition is completed.

“We’re in the process of moving, but we’re not quite ready to hang the sign out there,” he says.

The exact location has not been disclosed because of security policies associated with weapons manufacturing.

Bob McGriff of Jones Lang LaSalle represented Para in the lease. Michael Catanese of NAI/Southern Real Estate represented the property owner.

cool  


need more gun shops and ammo shops in the USA.

They are already working. The shop is not up to full speed yet but they are assembling pistols. They won/t have a retail store front.