Booming in the Triad: $15.1B in Investments and 12,800 Jobs Announced

The Triad region’s strategic location and strong workforce continue to attract large-scale investments, solidifying its position as a hub for innovation and economic opportunity. Many companies are establishing operations in the Triad, with plans for over 12,800 jobs and more than $15.1 billion in expected investments, as announced between Q3 2021 and Q3 2024. Recent announcements include:

Davidson County

Name: Dai Nippon Printing Co., Ltd.
City: Linwood
Announced: Q4 2023
Planned Investment: $233 Million
Planned Jobs: 352 through 2029
Details: Dai Nippon Printing Co., Ltd., a lithium-ion battery pouch manufacturer, will build its first U.S. advanced manufacturing facility, with the site expected to be operational in 2026. Depending on market conditions and demand, the facility could possibly be expanded and new jobs added. Hiring for the new facility will begin next year.

Name: Nucor
City: Lexington
Announced: Q2 2022
Planned Investment: $350 Million
Planned Jobs: 180
Details: Nucor, the largest producer of steel in the United States, is currently constructing a new micro mill steel plant for producing steel bar and rebar, with operations to begin in the first half of 2025. In late June 2024, Nucor also announced an additional investment of $20 million and 25 new jobs for its new rebar fabrication facility, which will sit adjacent to the new mill.

Name: Siemens Mobility, Inc.
City: Lexington
Announced: Q1 2023
Planned Investment: $220 Million
Planned Jobs: 506 by 2028
Details: Siemens Mobility, Inc., the global manufacturer of rail transportation vehicles and control systems, has almost completed the construction of its new major advanced manufacturing and rail services center. Sitting on a 200-acre site, which will allow for future expansion, the center will serve the company’s East Coast markets. Hiring will begin this fall, with a grand opening anticipated for later this year.

Forsyth County

Name: Ziehl-Abegg, Inc.
City: Winston-Salem
Announced: Q4 2022
Planned Investment: $100 Million
Planned Jobs: 600 with the potential to grow to 1,000
Details: Ziehl-Abegg, Inc., a manufacturer of commercial ventilation systems, relocated its North American headquarters and expanded its current operations to a new state-of-the-art 500,000-square-foot building to increase its production capabilities and distribution for North America. The new site opened in August, with plans to start production in September.

Guilford County

Name: Boom Supersonic
City: Greensboro
Announced: Q1 2022
Planned Investment:  $500 Million
Planned Jobs: 1,750+ by 2030
Details: Boom Supersonic, a prominent aviation company developing modern supersonic airliners for commercial service, has recently inaugurated its new manufacturing and final assembly facility at Piedmont Triad International Airport. Known as the Overture Superfactory, this facility includes the company’s first final assembly line, test facility, and customer delivery center. With construction now complete, Boom Supersonic will focus on manufacturing and assembly, with production slated to begin soon. The assembly line is expected to be operational by 2025, with the first jet potentially taking flight in 2026. Following successful testing, passenger flights are anticipated to commence by 2029.

Name: ProKidney, Corp.
City: Greensboro
Announced: Q2 2023
Planned Investment: $485 Million
Planned Jobs: 330 by 2028
Details: ProKidney, Corp., a late clinical-stage cellular therapeutics company headquartered in Winston-Salem, will establish a new biomanufacturing facility for the future commercial manufacturing of REACT® (REnal Autologous Cell Therapy), the company’s lead product candidate being developed for the treatment of chronic kidney disease. The company purchased a 210,000 square foot facility and approximately 22 acres of land, and plans to make investments in the facility through 2028 to prepare for potential commercial-scale manufacturing.

Name: Ross Stores, Inc.
City: Randleman
Announced: Q2 2024
Planned Investment: $450 Million
Planned Jobs: 852 over 5 years
Details: Ross Stores, Inc. will build its 9^th distribution center in a 1.7 million square-foot facility for warehousing, fulfillment and packing operations. Located at the I-74 Industrial Center, Ross Stores aims to complete its capital investment of the site by the end of 2026 and create the jobs from 2027-2031.

Randolph County

Name: Toyota Motors
City: Liberty
Announced: Q4 2021/Q4 2023
Planned Investment: $13.9 Billion
Planned Jobs: 5,100
Details: Toyota has announced two significant investments in its electric battery manufacturing site underway in Liberty, beginning with its first announcement in 2021. In response to the growing demand for electric vehicles, Toyota’s latest investment in 2023 will expand its production capacity for electric vehicle batteries and introduce new capacity for producing batteries for plug-in hybrid vehicles. This investment will add eight new production lines to the two previously announced. The plant is expected to be operational by 2025.