As one of five large companies announcing investment in North Carolina, VinFast can create more jobs here than Apple and Toyota.
1. VinFast
VinFast’s new factory in the US will be located at Triangle Innovation Point industrial park, Chatham County with an area of about 800 hectares and includes 3 main areas: production and assembly of electric cars and electric buses; battery production area for electric vehicle products and ancillary industry area for suppliers.
Phase 1 will start construction right in 2022 after receiving the construction permit and is expected to be operational in July 2024. The capacity of phase 1 is expected to be 150,000 vehicles/year.
It is expected that to build a complete electric vehicle and battery production facility, the company will have to invest more than 4 billion USD. In addition, the state will contribute $854 million over 32 years, with Chatham County contributing $400 million. VinFast hopes to recruit 7,500 people by 2027 with a minimum salary of $51,096 per year.
2. Boom Supersonic
Boom Supersonic is an aircraft manufacturer with the goal of creating supersonic aircraft, reducing travel time for customers. In February 2022, the company announced that it would build a $500 million flagship manufacturing facility at Greensboro’s Piedmont Triad International Airport in North Carolina.
Boom Supersonic has received a $121.5 million support package from North Carolina and Guilford County. The facility will employ up to 1,761 workers with an average salary of $68,792 per year.
The US site The News & Observer said that betting on Boom Supersonic’s success could be risky for North Carolina. In fact, the company has yet to produce and launch its flagship product – a passenger jet that can fly at 1,300 mph. It is known that this speed is faster than the speed of sound and is almost twice the speed of the fastest transport aircraft today.
3. Toyota
Greensboro, a city in North Carolina will be where Toyota will locate its $1.29 billion battery factory.
Toyota announced in mid-December, the factory will employ at least 1,750 employees. North Carolina and Randolph County will contribute $438.7 million in incentives to the plant.
The Japanese automaker is trying to reinvent itself to become one of the world’s leading electric vehicle manufacturers. The new battery plant will be located on 1,800 acres of land in Liberty, North Carolina.
4. Apple
The leaders of North Carolina and the largest technology company on the planet took nearly four years to negotiate and decide to build an Apple campus in Triangle in 2021.
Last April, the company announced it would build its East Coast headquarters at Research Triangle Park. According to The News & Observer, Apple will employ about 3,000 people with an average income of $ 187,000 / year.
Apple’s office will be located in a convenient location, where many headquarters of hundreds of companies are located and the large business center of the Research Triangle park.
To secure Apple’s commitment, North Carolina approved the largest-ever incentive package for a private company. If Apple meets its hiring goals, the company could earn a $845.8 million grant over 39 years. Wake County plans to contribute about $20 million.
5. Google
Unlike the companies mentioned above, Google built and invested in offices in North Carolina without the need for a package of incentives and support.
In March 2021, the tech giant said its office would create 1,000 jobs in downtown Durham in the coming years.
Google says the Durham office could become one of the company’s top five engineering centers in the United States, along with the Bay Area, New York, Seattle and Washington.
Source: The News & Observer
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