Project Traits
State: North Carolina
Congressional District: NC01
Organization Type: Commercial
Partner Organization(s) Type: None or Unknown
Energy Sector: Transportation,
Energy Subsector: EV Batteries,
Project Start Year: 2023
Project Launch Year: 2032
Government Support Received: State Grant [Transformative Job Development Investment Grant] for $316,100,000State Direct Spending [State Appropriation] for $450,000,000
Outcomes & Impacts
Private Investment: $4,000,000,000
Jobs Announced or Created: 7,500
People Served: Unknown
Projected Economic Impact: $529,000,000
Construction began in July 2023, integrating into the Triangle Innovation Point megasite, and is projected to generate $529 million in property tax revenue over 20 years.
The facility will qualify for the Advanced Manufacturing Production Tax Credit (45X).
This project marks North Carolina’s second battery plant and is projected to grow the state’s economy by at least $71.6 billion over 32 years, including up to $316 million in state incentives under its JDIG agreement.