PTT plans $102.5 M expansion in NC
Governor Josh Stein has announced a major expansion for Pennsylvania Transformer Technology, LLC, to add 217 new jobs in Hoke County, NC.
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USA, North Carolina: Governor Josh Stein has announced a major expansion for Pennsylvania Transformer Technology LLC, a manufacturer of power and distribution transformers, to add 217 new jobs in Hoke County. The company will invest over $102.5 million to expand its manufacturing footprint in Raeford.
“PTT’s expansion is an outstanding economic development win for Hoke County and the entire state of North Carolina. North Carolina is home to the largest manufacturing workforce in the Southeast and a central East Coast location, setting up our rural communities for more success,” Governor Stein said in a press release.
Headquartered in Canonsburg, Pennsylvania, PTT manufactures power and distribution transformers for the electric utility, municipal power, renewable energy, and industrial markets. With plans to build an additional 300000 square feet across two new facilities in Raeford, the expansion is designed to increase its manufacturing capacity of transformers in the United States and contribute to reducing supply chain shortages of critical transformer equipment.
Salaries for the new positions will vary, but the average annual salary is expected to be $64949. The new jobs might create a potential positive aggregate annual payroll impact of more than $14 million to the local economy.
Source: Greater Fayetteville Business Journal
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