Prysmian Announced A Massive $1 Billion Expansion In Catawba County
This week, Prysmian, a provider of energy and digital connections, announced plans to add 385 jobs in Catawba County, as the company plans to expand operations with a $1 billion investment to enhance fiber and glass manufacturing operations.
“This investment demonstrates our commitment to supporting the growth of the U.S. demand for advanced digital solutions,” said Andrea Pirondini, Prysmian North America CEO. “We are one of just three U.S. manufacturers of fiber and optical cables, and now we are committing more than a billion dollars to new innovative solutions and transformational capacity growth.”
Prysmian North America delivers major electrical transmission projects, modernizes power grids, and unlocks renewable energy, electrification, and digital connectivity worldwide. Founded in 1879, the company has grown to become one of the world’s largest cable and fiber manufacturers, operating more than 100 plants across six continents, including more than 50 locations and 9,000 associates in North America.
The expansion in Claremont will include the vertical integration of a new glass production facility and upgrades for existing buildings to double capacity for fiber optic manufacturing. The new site will expand its current footprint by 975,000 square feet.
“Prysmian is a major force in advancing North Carolina’s innovation story,” said N.C. Commerce Secretary Lee Lilley. “This expansion reflects our shared commitment to building a thriving technology ecosystem that creates opportunities for employers and employees across every sector to innovate, invest, and grow while strengthening our contributions to the global economy.”
While wages vary by position, the average annual salary for the new positions will be $60,870, which exceeds Catawba County’s average of $56,937. These new jobs could potentially create a payroll impact of more than $23.4 million for the region each year.
A performance-based grant of $1 million from the One North Carolina Fund will be awarded to Prysmian Cables and Systems USA, LLC to help the company expand in North Carolina. The OneNC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. Prysmian must invest $665 million to receive One NC grant payments. All OneNC grants require matching participation from local governments, and any award is contingent upon that condition being met.
“This expansion is a testament to Catawba County’s ability to support innovative companies,” said N.C. Senator Mark Hollo. “We know that Prysmian could have made this major investment anywhere in the world, but they chose our community because of our well-equipped workforce and commitment to training that will help them to get to market quickly.”
