Every month, the Clean Economy Tracker (CET) provides an update on private investments in clean energy and technology manufacturing and the corresponding jobs it created. The tool was built by Atlas Public Policy and Utah State University to track the economic impact of growth in the clean energy industry.
At the end of the first quarter, CET reported that 1,090 facilities span 49 states, corresponding to $283.5 billion in total announced investment, 75% of the investment located in Republican districts, and 350,200 total announced jobs. Additionally, fifty-six facilities, corresponding to $7.8 billion in investment and 9,900 jobs, were announced in the first quarter. In March, specifically, nineteen new announcements were made across the battery, solar energy, and grid and transmission sectors, corresponding to $2 billion in investments and 5,600 jobs.
In North Carolina, the most recent announcement in the first quarter was Schneider Electric’s plan to invest $87.5 million in modernizing its space at its Welcome facility to produce switchgear and power distribution products, creating 125 jobs. The company announced the upgrade as part of a larger $700 million investment in its American operations through 2027, which is expected to generate more than 1,000 new jobs nationwide. Overall, it marks Schneider Electric’s single most significant planned capital expenditure commitment in its history. The company emphasized its support for the nation’s energy infrastructure buildout, which will enhance domestic manufacturing, contribute to energy security and national security, and supply power for the AI revolution.
“Schneider Electric’s significant investment is a clear sign that manufacturing in America is moving forward—driving economic growth, innovation, and job creation across the country,” commented Jay Timmons, CEO of the National Association of Manufacturers.
Photo Courtesy Schneider Electric
Over the first quarter, private manufacturers made numerous other significant announcements in the state. At the end of January, GE Vernova announced it would invest over $160 million at its Greenville, NC plant, adding to the $35 million invested last year, and creating 650 new jobs. Again, the funding came as part of a larger $600 million nationwide investment spanning the next two years, which the company expects to generate over 1,500 new American jobs. The expanded Greenville plant will use the funding to test hydrogen fuels, expand its capacity, improve product quality and delivery, and ultimately meet unprecedented customer demand for electricity equipment.
In February, Pennsylvania Transformer Technology (PTT) announced it would invest $102.5 million to expand its manufacturing capacity in Raeford, adding 300,000 square feet to two factories. The One North Carolina Fund also supported the expansion with an $800,000 performance-based grant, contingent upon meeting investment and job creation goals. As a result, the company will be able to produce more power and distribution transformers, thereby meeting high demand and addressing a supply chain shortage. PTT will create 217 new jobs in Hoke County, paying an average annual salary of $64,949, which is higher than the county’s average annual salary of $42,659. Moreover, it expects the payroll impact on the local economy to exceed $14 million.
North Carolina Senator Danny Earl Britt, Jr. (R-NC-District 24) reacted, “This is outstanding news for Raeford and Hoke County. These new jobs and millions of investments are the right sparks to energize our community, and our people stand ready to support the company in its next phase of growth.”
Photo Courtesy Pennsylvania Transformer Technology LLC
