The Sherwin-Williams Company (NYSE:SHW) is pleased to announce that it signed an agreement today with the state of North Carolina, Iredell County and the city of Statesville to significantly expand its architectural paint and coatings manufacturing capacity and establish a larger distribution facility in Statesville, North Carolina. Sherwin-Williams plans to invest a minimum of $300 million in the project and add more than 180 full-time jobs at the site over the next three years, which would essentially double the existing workforce.

The project will include a 36,000-square-foot extension of its existing 200,000-square-foot manufacturing facility, the addition...