Company bringing $102M expansion, 217 new jobs to Hoke County, Gov. Josh Stein announces

Posted by author February 19, 2025 Jobs

Company bringing 2M expansion, 217 new jobs to Hoke County, Gov. Josh Stein announces

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RAEFORD — A Hoke County transformer manufacturer is planning a $102.5 million expansion, bringing with it 217 new jobs to Raeford, North Carolina Gov. Josh Stein announced this week.

Pennsylvania Transformer Technology’s investment, along with a performance-based grant of $800,000 from the One North Carolina Fund, will be used to expand the company’s local footprint. The One North Carolina Fund is a discretionary cash-grant program “that allows the Governor to respond quickly to competitive job-creation projects,” according to the N.C. Department of Commerce. All grants require matching participation from local governments and any award is contingent upon that condition being met.

The Pennsylvania-headquartered PTT manufactures power and distribution transformers for the electric utility, municipal power, renewable energy and industrial markets, a news release said.

With plans for an additional 300,000 square feet across two new state-of-the-art facilities on its Carolina Drive property in Raeford, Pennsylvania Transformer Technology’s expansion is designed to increase its manufacturing capacity of transformers in the United States and contribute to reducing domestic supply chain shortages, the release said.

“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,” Sandeep Chakravarty, president of PTT, said in the release. “This new state-of-the-art facility will not only enhance our production capacity, it will provide economic benefits to the community by creating additional well-paying, high-quality jobs and more broadly, contribute to the country’s economic growth and the energy transition.”

The average annual salary for the new jobs is expected to be $64,949, exceeding the Hoke County average of $42,659, according to the announcement. The new salaries create a potential aggregate annual payroll of more than $14 million in the local economy, the release said.

“PTT’s expansion is an outstanding economic development win for Hoke County and the entire state of North Carolina,” Gov. Stein said in the release. “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.”