A maker of power and distribution transformers is planning a $102.5 million expansion in Raeford — a project that is expected to bring 217 new jobs to the Hoke County city.
Pennsylvania Transformer Technology LLC is expected to receive $800,000 from the One North Carolina Fund to support the company’s expansion, which includes an additional 300,000 square feet across two new facilities, Gov. Josh Stein said in a news release on Monday. The grant is contingent upon meeting job creation and investment targets.
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The average annual salary for the positions is expected to be $64,949 — 52% above the Hoke County average. The positions have the potential to add $14 million in payroll to the local economy.
PTT, based in Canonsburg, Pennsylvania, makes transformers for the electric utility, municipal power, renewable energy and industrial markets. The company has been in Hoke County since 1992. The expansion will help it boost manufacturing of transformers in the United States, which could help reduce domestic supply chain shortages, Stein said.
“This new state-of-the-art facility will not only enhance our production capacity, it will provide economic benefits to the community by creating additional well-paying, high-quality jobs and more broadly, contribute to the country’s economic growth and the energy transition,” PTT President Sandeep Chakravarty said in a statement.
It’s the latest company focused on electric grid technology to expand in the state.
In December, MetOx — a maker of efficient power transmission cables — said it plans to create 333 jobs and invest about $194 million in Chatham County as part of a long-range plan to provide more efficient power for data centers, medical diagnostics and more.
https://www.wral.com/story/transmission-wire-manufacturer-plans-194m-plant-333-jobs-in-chatham-county/21772247/
A year ago, Siemens Energy announced plans to add 559 jobs and invest almost $150 million in North Carolina over the next several years — an expansion that would establish in Mecklenburg County the company’s first U.S. manufacturing site for large power transformers. The company also announced plans to expand its existing grid technology engineering operations in Wake County.
And in 2021, energy-grid technology company Smart Wires Inc. announced plans to move its headquarters from California to Durham.