Power technology firm to create 130 jobs in Cary, Huntersville
Swiss power technologies giant ABB Inc. will build a manufacturing plant in Mecklenburg County and expand its North American headquarters in Cary, officials announced Thursday.Posted — Updated
Together, the projects will add 130 jobs over the next two years.
The $90 million factory in Huntersville will produce high-voltage cables to transport power over long distances from remote, renewable energy sources, such as wind farms and solar arrays. Construction on the plant is expected to begin early next year.
“We have a very good and long-standing relationship with the state of North Carolina,” Enrique Santacana, region manager for ABB in North America, said in a statement. “The combination of proximity to transportation, top-notch engineering talent and an attractive living environment made Huntersville an excellent choice for this new cable facility.”
The new jobs coming to Cary will be engineering positions.
The average wage for the new jobs will be $64,008, plus benefits, which is higher than the average of $48,776 in Mecklenburg County and $42,692 in Wake County, according to state officials.
ABB qualified for a $400,000 grant from the One North Carolina Fund, which provides cash grants to attract business projects that officials deem important to the state economy. No money is paid up front, and companies must meet job-creation and investment targets to receive payments. The grants also much be matched by local funds.
The state Economic Investment Committee also awarded a Job Development Investment Grant to ABB. Under the terms of the JDIG, ABB is eligible to receive 67 percent of the state withholding taxes from the new jobs for each of the nine years in which the company meets annual performance targets.
If ABB meets all of the targets called for under the agreement, it could receive more than $2.1 million under the JDIG.
ABB employs 771 full-time workers in North Carolina. Its Power Systems and Power Products divisions for North America are headquartered on North Carolina State University's Centennial Campus.
Copyright 2023 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.