April 20, 2024 11:55 am
Search
Close this search box.

Local News

Semiconductor Facility Deal Set To Create Thousands Of Jobs For Chatham County

Credit: iStock

Anzhe Zhang

Governor Roy Cooper announced last week that Wolfspeed Inc, a leading manufacturer of semiconductors, was in the process of building a new facility in Siler City that is expected to bring in an estimated $5 billion in investments for the town and Chatham County across the next eight years.

Semiconductors are critical components for everything ranging from healthcare systems to EV charging stations. The new facility is expected to create 1,802 jobs come 2026 and is projected to pay an average minimum of $77,753 per year.

“This is another milestone in our drive toward a clean energy economy as it will boost electric vehicle manufacturing and offshore wind while fighting climate change and putting money in the pockets of every day North Carolinians with great paying jobs,” Cooper said in a press release.

The corporation was granted a generous $800 million incentive to open the facility in Siler City, comprising a mix of local and federal incentives. The state is pitching in $159.1 million, while Chatham County has committed $600 million. 

Breaking down the state contributions, $57 million is being provided towards constructing the facility while the rest will go towards investment and other grants.

As a financial heavyweight project, the facility is expected to generate an additional $17.5 billion to the state’s gross domestic product by 2045.

“Wolfspeed’s decision further validates North Carolina as the epicenter of clean energy,” Cooper continued.

Cooper has assisted in creating multiple grants to attract manufacturers in clean energy industries to set up shop in Chatham County. Recently, VinFast, a Vietnamense electronic vehicle manufacturer, entered into a partnership with the county.

“Wolfspeed’s decision is a great vote of confidence for our manufacturing and burgeoning clean energy economy to help energize our future success,” Sen. Dan Blue (D), the state senate leader, said.

Solar leases help NC farm owners up revenues, keep homestead

In the serene fields of Pendleton, North Carolina, Ajulo Othow, founder of EnerWealth Solutions, draws inspiration from her post-Katrina economic development work to establish solar installations that not only respect the landscape but offer sustainable income to local landowners. Her projects prioritize minimal disruption while maximizing benefits, reflecting a thoughtful approach to renewable energy in rural settings, and enhancing both economic and environmental resilience.

North Carolina Tenants Union seeks to level playing field in state’s tight housing market

In response to challenges faced by North Carolina tenants, including unjust evictions, unaffordable rent hikes, and poor living conditions, the North Carolina Tenants Union (NCTU) was officially launched with the aim of empowering tenants through collective action for fairer housing policies and laws. With a statewide network of local tenant unions, NCTU focuses on crucial issues such as legal representation in eviction proceedings, strengthening housing codes, and facilitating collective bargaining for lease renegotiations.

Troubled waters: DEQ proposes adding 400+ miles of streams, rivers to impaired list

Despite Bogue Sound’s serene appearance along North Carolina’s Crystal Coast, it faces significant environmental threats from bacteria due to aging wastewater infrastructure and other pollution sources, prompting a proposal to list over 1,500 acres of the sound on the federal impaired waterways list for the year. This situation underscores a broader concern across the state, with over 400 miles of streams and rivers proposed to be added to this list, reflecting the ongoing challenge of balancing development and environmental preservation.