South Raleigh News

Governor Josh Stein has announced a significant expansion for Pennsylvania Transformer Technology, LLC (PTT) in Raeford, North Carolina. The company plans to invest over $102.5 million to expand its manufacturing operations and create 217 new jobs in Hoke County.

"PTT’s expansion is an outstanding economic development win for Hoke County and the entire state of North Carolina," said Governor Stein. "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."

PTT, headquartered in Canonsburg, Pennsylvania, specializes in manufacturing power and distribution transformers. The company intends to construct two new facilities totaling 300,000 square feet in Raeford. This expansion aims to boost transformer production capacity and address domestic supply chain shortages.

"We built our first factory in Hoke County, North Carolina back in 1992 and have been proudly manufacturing power transformers in this community for over 30 years," stated Sandeep Chakravarty, President of PTT. "We are thrilled to further invest in and expand our operations in Hoke County."

N.C. Commerce Secretary Lee Lilley remarked on the investment's significance: "This major investment is more proof that North Carolina is indeed the best state to do business."

The new positions will offer an average annual salary of $64,949, surpassing the Hoke County average of $42,659. This could result in a positive aggregate annual payroll impact exceeding $14 million locally.

An $800,000 performance-based grant from the One North Carolina Fund will aid PTT's expansion efforts. The fund provides financial assistance contingent upon job creation and capital investment targets being met.

"This is outstanding news for Raeford and Hoke County," said N.C. Senator Danny Earl Britt, Jr., while N.C. Representative Garland E. Pierce added that PTT has been a "fantastic corporate citizen" for over three decades.

The project involves collaboration with various partners including the North Carolina Department of Commerce, Economic Development Partnership of North Carolina, and others.