Prysmian’s $1 Billion Expansion to Boost North Carolina’s Economy with 385 New Jobs
In a significant development for North Carolina’s economy, Prysmian has announced an ambitious expansion plan in Catawba County, which is set to create 385 new jobs. The multinational company, known for its solutions in energy and digital connectivity, will invest over $1 billion to enhance its fiber and glass manufacturing operations.
Governor Josh Stein remarked on the expansion, stating, “This billion-dollar investment is more proof that North Carolina is leading the way on innovation and job creation. Companies understand the value of our highly skilled manufacturing workforce that helps to power their strategic growth.”
Prysmian North America, established in 1879, has grown into one of the largest cable and fiber manufacturers globally, with operations in over 100 plants across six continents. The expansion in Claremont will feature a new glass production facility and upgrades to existing structures, significantly increasing the plant’s fiber optic manufacturing capacity by 975,000 square feet.
According to Andrea Pirondini, Prysmian North America CEO, “This investment demonstrates our commitment to supporting the growth of the U.S. demand for advanced digital solutions. We are one of just three U.S. manufacturers of fiber and optical cables, and now we are committing more than a billion dollars to new innovative solutions and transformational capacity growth.”
The average annual salary for the newly created positions will be $60,870, surpassing Catawba County’s average of $56,937. This initiative could result in an annual payroll impact exceeding $23.4 million for the region.
Prysmian will also benefit from a $1 million performance-based grant from the One North Carolina Fund, contingent on meeting specific job creation and capital investment goals. The grant, aimed at helping local governments attract economic investment, requires Prysmian to invest $665 million to qualify for payments. Local government participation is also a prerequisite for the grant.
Commenting on the project, N.C. Commerce Secretary Lee Lilley said, “Prysmian is a major force in advancing North Carolina’s innovation story. This expansion reflects our shared commitment to building a thriving technology ecosystem that creates opportunities for employers and employees across every sector to innovate, invest, and grow while strengthening our contributions to the global economy.”
N.C. Senator Mark Hollo added, “This expansion is a testament to Catawba County’s ability to support innovative companies. We know that Prysmian could have made this major investment anywhere in the world, but they chose our community because of our well-equipped workforce and commitment to training that will help them to get to market quickly.”
Key partners supporting this project include the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, and local entities such as Catawba Valley Community College and the Catawba County Economic Development Corporation.
More details about Prysmian North America, which has over 50 locations and 9,000 associates, can be found at na.prysmian.com. Globally, Prysmian employs 34,000 individuals and operates 109 production facilities across more than 50 countries.
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