BUSINESS RECRUITMENT

Despite the headwinds of high interest rates, continual inflation, and macroeconomic factors in 2023, the Economic Development Partnership of North Carolina’s (EDPNC) Business Recruitment team brought new businesses to the state in many industries, from aerospace and automotive, to clean energy and biotechnology. 

ANNOUNCED NEW JOBS

6,888

ANNOUNCED CAPITAL INVESTMENT

$3.09B

NEW PROJECT
WINS

54

HIGHLIGHTS

For decades, North Carolina has been a leader in the clean energy economy, and the projects announced in the state last year further demonstrate North Carolina’s place at the top. The state saw projects from Siemens Mobility, which announced it will manufacture environmentally friendly passenger rail vehicles; Kempower, which will build electric vehicle (EV) charging stations; and Epsilon Advanced Materials, which will manufacture graphite for anode components for lithium-ion batteries, to name a few. Because of the number of EV battery-related projects new to North Carolina, the state is being referred to as the “Battery Belt.” 

 
Siemens Mobility, Inc.
Siemens Mobility, Inc.

Siemens Mobility, Inc., the global manufacturer of rail transportation vehicles and control systems, announced it will build a major advanced manufacturing and rail services center in Davidson County, creating 506 jobs. The company will invest $220 million in Lexington, creating a new carbon neutral facility that will serve the company’s East Coast markets.

Siemens Mobility’s advanced manufacturing center in North Carolina will involve multiple buildings on the 200-acre site, which will also feature more than 11,000 feet of rail track. The company will manufacture passenger rail vehicles at the Lexington facility, allowing it to better serve its East Coast customers while meeting growing demand for its products. Siemens Mobility is a subsidiary of Germany-based Siemens AG, a leader in intelligent transportation solutions for more than 175 years.

Kempower, Inc.
Kempower, Inc.

Kempower, Inc., a European manufacturer of fast EV charging stations and solutions, announced it will invest $41 million for a new production facility in North Carolina, creating 601 jobs in Durham County. Kempower is a leading manufacturer of fast EV charging stations and solutions in Europe, which their company claims charge EVs faster and more efficiently than what is currently on the market.

The Finland-based company has small sales offices in the United States, with the Durham County production facility being its first in the nation. The facility began producing National Electric Vehicle Infrastructure (NEVI) Program compliant DC fast-charging units in 2023 and gained the ability to directly supply its customers in the United States.

Epsilon Advanced Materials
Epsilon Advanced Materials

Epsilon Advanced Materials, a global provider of synthetic graphite used in EV batteries, announced it will invest $649.9 million in a new manufacturing facility outside of Wilmington. The project, which will create 500 jobs in Brunswick County, is one of the largest economic development announcements in the southeastern part of the state in the past 10 years and the largest-ever investment in North Carolina by an Indian company.

The new Brunswick County location will establish the company’s first manufacturing facility in the United States to produce synthetic graphite anode material, a key component in the batteries that power electric vehicles and other energy storage systems.

 

BUSINESS DEVELOPMENT

The EDPNC’s Business Development team had one of its best years on record identifying, nurturing, and developing business leads.

The team had 119 qualified leads, meaning the Business Development team identified a potential project then worked with the company to nurture and develop that project so that the Business Recruitment team can manage the project until it is ready to announce. In fact, the Business Development team was the largest single source of projects for the EDPNC. With the COVID-19 pandemic subsiding and companies being unencumbered to travel, plus interest in the financial benefits of the Inflation Reduction Act, the team was able to make more connections with potential companies and projects domestically and abroad. Team members collaborated with companies from across Europe, Asia, North America, and Australia, primarily in the clean energy sector. 

One such company was Brand ID, a Finnish industrial graphics company which announced it would establish a manufacturing facility in Raleigh, investing $2 million and creating 35 new jobs in Wake County. The company will provide the graphics for EV chargers manufactured by Kempower, which has a production facility in Durham. The Business Development team worked with the company and local governments on several rounds of site visits and providing resources to the company and its employees moving from Finland to Wake County. The Business Development team also connected Brand ID with the EDPNC’s International Trade division to explore STEP grant funding opportunities.