(The Center Square) – A Brazilian company specializing in energy equipment plans a $25 million factory in North Carolina projected to create 160 new jobs.
TSEA Energy will make voltage regulators at the 160,000-square-foot facility, the state announced Tuesday. The annual average salary for the new positions will be $66,554, which is higher than the average salary in Rockingham County of $46,154, according to the state.
Average wage comparisons are questioned because salaries of a few corporate leaders can skew the average higher while it would not have the same impact on the median wage.
The company’s North Carolina subsidiary has been approved for $300,000 in taxpayer incentives from the One North Carolina Fund.
“Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment,” the state said in a release. “ All OneNC grants require matching participation from local governments, and any award is contingent upon that condition being met.”
The factory will produce products for U.S. power companies as they upgrade their electric distribution networks, company chief executive Beto Reynaldo said in a statement. It will be TSEA’’s first factory in America.
“The agreement with the state of North Carolina represents an important step in our international expansion and reinforces our long-term commitment to the U.S. market,” he said. “We also value the strength of the country’s skilled manufacturing workforce and the opportunity to support the modernization of the U.S. power grid. This facility will be dedicated to serving the U.S. market and will allow us to work more closely with utilities as they upgrade and modernize their distribution networks.”
According to the U.S. Census, Rockingham County has a population of about 93,000.
The county seat is Eden, located about 28 miles from Greensboro where the Dan and Smith rivers meet. The rivers once powered textile mills and other manufacturing plants.
Like many smaller towns, Eden’s economy has changed in recent decades but it has worked to attract new industries.
“For each lost industry, there is an equal and opposite success,” the city says on its website. “The resiliency of the community has been on display with the recruitment of Purina, as well as the renewed commitment of UNC Rockingham Health Care.”
Demand for electricity in the United States is expected to increase due to the construction of large data processing centers and artificial intelligence.
The U.S Energy Efficiency Administration in January issued a forecast of 1% growth in electricity this and 3% in 2027.
“This increase would mark the first time since 2007 that power demand has risen for four years in a row and the strongest four-year growth period since 2000,” the agency said. “The driving factor behind this surge is increasing demand from large computing centers.”
