Economic Development News

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On September 23, 2022, SteriTek, an electron beam and x-ray sterilization company based in California, announced it will be constructing its first East Coast sterilization facility in Burlington, North Carolina. The 150,000 square-foot Burlington facility will create 50 new jobs over five years, bringing $71 million in company investment. 

Click to view the official press release!

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On September 9, 2022, Wolfspeed announced plans for a new semiconductor factory in Chatham County. The project will create 1,805 jobs with a total of $5 billion in private investment – ranking as the largest economic development project in North Carolina history!

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Automotive giant Toyota, the second largest car manufacturer by revenue in 2022, announced that an electric vehicle battery manufacturing plant will locate at the Greensboro-Randolph Megasite. The company will invest $1.29 billion into the project and create at least 1,750 jobs with salaries averaging $62,000. As of August 31, 2022, an additional $2.5 billion in investment was announced to the megasite. 

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On August 10, 2022, BNNano announced that their patent application for the Boron Nitride NanoBarb™ was granted. This unique design allows the NanoBarb™ to “optimize the interlock with matrix materials,” minimizing contact area between particles and maximizing its already impressive reinforcing properties. At the beginning of August, the company had shipped over 10 quadrillion Boron Nitride NanoBarbs™ in 2022.

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On August 2, 2022, Chafe-Pro announced patent approval for a convertible rescue backpack design, named the Edge-Pack. The Edge-Pack is a multi-use pack with interchangeable panels for gear organizers and pockets. Whether backpack, briefcase, or anchor sling, this bag has it all.

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On August 10, 2022, Biscuitville had a ribbon cutting for the new 78,000 square-foot distribution center in Burlington. Prior to the central facility, the company had been operating out of a leased 20,000 square-foot facility in Graham, as well as rented facilities in Kernersville, Burlington, and Danville, Virginia. Now, with the consolidated facility, all its self-distribution operations will be able to service the 69 restaurants throughout North Carolina and Virginia.

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Labcorp announced on July 28, 2022, that its Board of Directors authorized a spin-off Clinical Development business. The spin-off will be a global Contact Research Organization (CRO), resulting in two independent, publicly traded companies, each leading the way for growth in the life sciences and biotechnology industries. 

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VinFast, a private automotive company headquartered in Singapore, announced in March of 2022 that they would be opening a manufacturing facility in Chatham County, North Carolina. The project has received $1.25 billion in state and local incentives and will be the first automotive manufacturing facility in North Carolina. With the goal of completing construction by 2024, the facility is creating 7,500 jobs over five years, averaging salaries at $51,000.

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On April 21, 2022, Governor Roy Cooper announced that the City of Burlington will receive a $120,000 NC Commerce Building Reuse Grant to support National On-Demand's expansion of their corporate headquarters in Downtown Burlington. The company will invest $1.42 million in a 34,425 square foot former banking office, creating 15 new jobs in the community. The average salary of these positions is $129,333.

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On April 21, 2022, Governor Roy Cooper announced that the City of Burlington will receive a $300,000 NC Commerce Building Reuse Grant to support ChenMed’s establishment of a new medical clinic in the city. The company will invest $1.25 million in a 10,000 square foot former pharmacy building, creating 30 new jobs in the community. The average salary of these positions is $90,330.

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April 22, 2021 :  NOA Living, a luxury home goods designer and manufacturer, announced on April 16th, 2021 that the company will bring their corporate headquarters to a renovated historic mill in Burlington. 

The company plans extensive renovations to the vacant Lakeside Mill complex at 423 Lakeside Avenue, Burlington, investing $3,747,492 and creating 24 jobs with an average annual wage of $51,350.

Click the image to the left to read the full press release.