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Project(s): View 6 related projects in PECWeb
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Released February 27, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Industrial Info is tracking more than 160 industrial projects presently under construction in North Carolina, requiring an estimated $18.7 billion in total investment. The state is home to several $1 billion+ projects as well as other big-ticket items, with the result that the 10 top-valued projects lead to more than $11.3 billion in total spending. The state's Industrial Manufacturing Industry is heading the charge in spending.
The dominance of the manufacturing sector in North Carolina's project spending can be attributed in large part to projects from semiconductor manufacturer Wolfspeed Incorporated (NYSE:WOLF) (Durhan, North Carolina). The company began work on two North Carolina projects in 2022, one before and one after the August 2022 passage of the Inflation Reduction Act that provides tax incentives to semiconductor-manufacturing development in the U.S.
Wolfspeed is expanding manufacturing operations at its Durham campus by relocating differing operations into an existing 253,000-square-foot vacant building, leading to 18 times more manufacturing space. The company is at work on an even larger project in Chatham County, with the construction of the first phase of a grassroot manufacturing plant that will be approximately 400,000 square feet. Both projects aim to manufacture the latest 200-millimeter wafers. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can learn more by viewing the project reports on the Durham and Chatham County projects.
Among other markets, Wolfspeed is targeting its plants' output, which is expected to begin this summer from both facilities, toward the automotive market, which has seen the use of semiconductors in vehicles greatly increase, particularly with the rise of electric vehicles (EVs). Two projects geared toward the production of EVs and their batteries, always high-dollar undertakings, are underway in North Carolina, adding more than $3 billion in total spending. VinFast US (Los Angeles, California) will manufacture both electric cars and buses as well as batteries at its upcoming plant in Moncure, about 30 miles southeast of Raleigh. The first phase of construction includes a 497,000-square-foot press shop, 780,000-square-foot body shop, a general assembly area and energy plant. General contractor Clayco Corporation (St. Louis, Missouri) is expected to wrap up this phase of construction in mid-2025.
About 35 miles from the Moncure plant, Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan) has been at work on a grassroot EV-battery plant since 2022. The 490,000-square-foot facility in Liberty will house four production lines that will be able to manufacture a combined 800,000 battery packs per year, with the ability to ramp up to 1.2 million per year, should the market warrant it. This project also is expected to be concluded in mid-2025. Subscribers can learn more by viewing the project reports on the Moncure and Liberty plants.
In another North Carolina project, Siemens AG (Munich, Germany) is targeting a different mode of transport: passenger rail. Siemens kicked off work on its Project Gemini in Lexington last summer. A new manufacturing building will feature more than 11,000 feet of rail track and production equipment to manufacture an estimated 264 passenger rail cars per year. The facility also will be outfitted to overhaul existing locomotives and rail cars. Construction is expected to wrap up this summer. Subscribers can click here to learn more.
Yet another mode of transport is being targeted in Boom Supersonic's (Centennial, Colorado) Phase I construction of a grassroot aircraft manufacturing in Greensboro. Construction on the plant kicked off early last year, and upon completion later this year, the building will boast 150,000 square feet of production space and 24,000 square feet of office space, geared toward manufacturing the company's Overture line of supersonic passenger jets, which have a cruise speed of Mach 1.7. Subscribers can learn more by viewing the project report.
Another project targeting air travel has been under construction since late 2020 but is expected to be completed by the end of this year. The Charlotte-Douglas International Airport (Charlotte), in a project intended for non-hub carriers, is extending a concourse by approximately 2,550 feet and adding 10 new gates to help alleviate aircraft and passenger traffic bottlenecks. Construction also includes a new exterior canopy, two overhead pedestrian walkways and two subterranean walkways. Subscribers can learn more by viewing the project report.
Subscribers to Industrial Info's GMI Industrial Manufacturing Project Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
The dominance of the manufacturing sector in North Carolina's project spending can be attributed in large part to projects from semiconductor manufacturer Wolfspeed Incorporated (NYSE:WOLF) (Durhan, North Carolina). The company began work on two North Carolina projects in 2022, one before and one after the August 2022 passage of the Inflation Reduction Act that provides tax incentives to semiconductor-manufacturing development in the U.S.
Wolfspeed is expanding manufacturing operations at its Durham campus by relocating differing operations into an existing 253,000-square-foot vacant building, leading to 18 times more manufacturing space. The company is at work on an even larger project in Chatham County, with the construction of the first phase of a grassroot manufacturing plant that will be approximately 400,000 square feet. Both projects aim to manufacture the latest 200-millimeter wafers. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can learn more by viewing the project reports on the Durham and Chatham County projects.
Among other markets, Wolfspeed is targeting its plants' output, which is expected to begin this summer from both facilities, toward the automotive market, which has seen the use of semiconductors in vehicles greatly increase, particularly with the rise of electric vehicles (EVs). Two projects geared toward the production of EVs and their batteries, always high-dollar undertakings, are underway in North Carolina, adding more than $3 billion in total spending. VinFast US (Los Angeles, California) will manufacture both electric cars and buses as well as batteries at its upcoming plant in Moncure, about 30 miles southeast of Raleigh. The first phase of construction includes a 497,000-square-foot press shop, 780,000-square-foot body shop, a general assembly area and energy plant. General contractor Clayco Corporation (St. Louis, Missouri) is expected to wrap up this phase of construction in mid-2025.
About 35 miles from the Moncure plant, Toyota Motor Corporation (NYSE:TM) (Toyota City, Japan) has been at work on a grassroot EV-battery plant since 2022. The 490,000-square-foot facility in Liberty will house four production lines that will be able to manufacture a combined 800,000 battery packs per year, with the ability to ramp up to 1.2 million per year, should the market warrant it. This project also is expected to be concluded in mid-2025. Subscribers can learn more by viewing the project reports on the Moncure and Liberty plants.
In another North Carolina project, Siemens AG (Munich, Germany) is targeting a different mode of transport: passenger rail. Siemens kicked off work on its Project Gemini in Lexington last summer. A new manufacturing building will feature more than 11,000 feet of rail track and production equipment to manufacture an estimated 264 passenger rail cars per year. The facility also will be outfitted to overhaul existing locomotives and rail cars. Construction is expected to wrap up this summer. Subscribers can click here to learn more.
Yet another mode of transport is being targeted in Boom Supersonic's (Centennial, Colorado) Phase I construction of a grassroot aircraft manufacturing in Greensboro. Construction on the plant kicked off early last year, and upon completion later this year, the building will boast 150,000 square feet of production space and 24,000 square feet of office space, geared toward manufacturing the company's Overture line of supersonic passenger jets, which have a cruise speed of Mach 1.7. Subscribers can learn more by viewing the project report.
Another project targeting air travel has been under construction since late 2020 but is expected to be completed by the end of this year. The Charlotte-Douglas International Airport (Charlotte), in a project intended for non-hub carriers, is extending a concourse by approximately 2,550 feet and adding 10 new gates to help alleviate aircraft and passenger traffic bottlenecks. Construction also includes a new exterior canopy, two overhead pedestrian walkways and two subterranean walkways. Subscribers can learn more by viewing the project report.
Subscribers to Industrial Info's GMI Industrial Manufacturing Project Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
