Siemens Energy to add more than 550 jobs, invest $150 million in NC
Siemens Energy plans to add 559 jobs and invest almost $150 million in North Carolina over the next five years, state officials said Tuesday as they approved an economic incentives package worth at least $9.3 million.
The expansion — which is expected to grow the state’s economy by $1.63 billion — would establish in Mecklenburg County the company’s first U.S. manufacturing site for large power transformers, a critical component of the nation’s power grid, state officials said. The company will also expand its existing grid technology engineering operations in Wake County.
The expansion is expected to create up to 475 direct operating jobs at the company's existing Charlotte facility and 84 jobs at its existing Raleigh location, the company said. The average salary for the new positions in Mecklenburg County will be $87,036, slightly more than the current average wage in the county.
The project is expected to also create about 285 construction jobs, according to the company.
“Manufacturing large power transformers in the United States will strengthen and expand our electrical grid to incorporate more renewable energy and meet growing energy demand,” Tim Holt, a member of Siemens Energy’s executive board, said in a statement.
Siemens Energy, which has been in Charlotte since 1969, has about 1,250 employees at the Charlotte location. Under the expansion proposal, the company would repurpose about 53,800 square feet of existing floor space at the facility and build an additional 86,100 square feet of manufacturing space.
"This latest expansion demonstrates once again their confidence in our state and its outstanding workforce,” Gov. Roy Cooper said in a statement Tuesday. “Bringing production of these high voltage transformers onshore not only creates American jobs but makes our electric grid more resilient and ready for the transition to clean energy.”
North Carolina Department of Commerce officials on Tuesday approved an incentives deal worth more than $9 million over 12 years to support the expansion.
The incentives agreement authorizes the potential reimbursement to the company of up to $6.98 million over 12 years, commerce officials said. Payments would be dependent on the company hitting incremental job creation and investment targets. The incentives deal also calls for moving $2.3 million into a state fund that helps rural communities finance infrastructure upgrades to attract future business.
“Our state will continue to invest in the programs and tools that pay off in new jobs and private-sector investments, such as our world-class workforce development and training programs that win acclaim around the world,” North Carolina Commerce Secretary Machelle Baker Sanders said in a statement.
