South Raleigh News

Governor Josh Stein has announced that Syntec Precision Technology Corporation will establish its first North American production and warehouse facility in Vance County, North Carolina. The company plans to invest $8 million and create 34 new jobs in the city of Henderson.

“Syntec has made a great decision to make its North American home in our state,” stated Governor Stein. He emphasized the importance of strong communities with talent and infrastructure for global manufacturers like Syntec.

Syntec is known for producing precision machining parts for industries such as hydraulic, life sciences, and transportation. The company's expansion into the United States aims to enhance development, production, and distribution of high-quality parts for medical devices and other equipment.

Owners Lei Wang and Bin Wang expressed their excitement about establishing a manufacturing facility in North Carolina. They acknowledged the support from various state entities, saying, “Your partnership has been instrumental in making our vision a reality.”

N.C. Commerce Secretary Lee Lilley highlighted North Carolina's workforce capabilities: “Our ‘First in Talent’ workforce development system continues to provide a highly trained, dedicated workforce for dynamic manufacturers like Syntec.”

The new positions at Syntec will have an average annual wage of $46,985 compared to Vance County's average wage of $45,193. This could result in an annual payroll impact exceeding $1.5 million.

A performance-based grant of $100,000 from the One North Carolina Fund will assist Syntec’s move to Vance County. The fund supports local governments in attracting economic investment by providing financial assistance contingent on job creation and capital investment targets being met.

“We welcome these new jobs to Vance County,” said N.C. Senator Lisa S. Barnes. She noted that Syntec would be a valuable addition to the local supply chain.

Key partners involved include the North Carolina Department of Commerce, Economic Development Partnership of North Carolina, North Carolina General Assembly, among others.