Peds Opens $16M Facility in N.C.

WASHINGTON — Peds Legwear opened a $16 million facility in Hildebran, N.C., on Wednesday, an investment the company said could create more than 200 jobs in the state. The Canada-based sock and legwear manufacturer reshored production with the investment in the facility and has plans to expand by investing an additional $8 million, which will bring the company’s total U.S. investment to $24 million. “Today’s ribbon-cutting highlights the importance of foreign direct investment into the U.S. economy, the significance of FDI in manufacturing and textiles, and the competitiveness of this country’s economy,” said Stefan Selig, undersecretary of international trade at the Commerce Department, who attended the ribbon-cutting ceremony. “Creating jobs benefits the local community, the state of North Carolina and our nation. SelectUSA [a government program dedicated to attracting and facilitating more investment in the U.S.] and our U.S. Commercial Service Canada teams were proud to provide their services to help facilitate this investment.” The investment by Peds, formerly the Richelieu Group, stems from a multiyear purchase order contract the company secured with Wal-Mart Stores Inc., which has pledged to invest $50 billion in Made in USA products over 10 years that the retail giant has said will ultimately amount to $250 billion. Michael

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