Semiconductor manufacturer selects Siler City for $5 billion investment

PITTSBORO — On Sept. 9, Durham semiconductor manufacturer Wolfspeed announced that it has selected Siler City to build a major fabrication plant, according to a Chatham County release. Gov. Roy Cooper announced that the company has agreed to purchase land at the Chatham-Siler City Advanced Manufacturing Site to build a manufacturing plant for silicon carbide semiconductor chips.

“We are grateful for the regional collaboration that allowed Wolfspeed to choose Chatham County, N.C., and we couldn’t be more thrilled for this wonderful opportunity for our local community, region, and state,” said Chatham County Manager Dan LaMontagne. “This investment will benefit our community for decades to come by employing hundreds of people in our region who will be instrumental in shaping the future of semiconductor markets.”

Wolfspeed is the global leader in the production of silicon carbide materials and devices which support sustainability through a more efficient use of energy than traditional semiconductor technology. This technology is used in a variety of applications including electric vehicles, 5G networks, and renewable energy and storage.

The company’s expansion at the Chatham-Siler City Advanced Manufacturing Site will produce the silicon carbide materials to make semiconductor chips and devices that more efficiently power electric vehicle inverters and charging systems.

This economic development project will create more than 1,800 jobs with positions ranging from research scientists, manufacturers, engineers, managers, and supervisors. The average annual salary is $77,753.

“The jobs that Wolfspeed is bringing will pay 87 percent more than our current average wage. That is a huge win for Siler City, Chatham County, and the region,” said Chatham County Board of Commissioners Chair Karen Howard.

“The North Carolina Community College System, Chatham County Schools and a network of exceptional public universities in the state were key to bringing this project to our community and will ensure that the jobs of the future are right here in North Carolina and accessible to the residents of Chatham County and beyond,” added Howard.

Financial support of the project includes a Transformative-class Job Development Investment Grant (JDIG). Transformative JDIGs extend grant periods beyond the program’s standard 12-year time horizon, up to 30 years. Wolfspeed’s Transformative JDIG could provide the company $76.1 million over 20 years if a High Yield classification is reached by five years.

Chatham County worked closely with the Chatham Economic Development Corporation (EDC), along with multiple local, regional, and state partners to attract the project.

In addition to the N.C. Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in the project include Gov. Cooper, the N.C. General Assembly, the North Carolina Community College System, the North Carolina Department of Transportation, the GoldenLEAF Foundation, Duke Energy, the Town of Siler City, the City of Asheboro, the Town of Ramseur, the Town of Franklinville, and the Randolph County Economic Development Corporation.

For regular project updates, visit the Chatham County website, www.chathamcountync.gov.

This article originally appeared on The Courier-Tribune: Chatham County selected for major manufacturing plant investment