Kempower Selects Durham County for First U.S. Facility
Published February 8, 2023
Finnish Company’s $41.25M Investment Will Create 601 New Jobs; Building Fast Electric Charging Stations for Vehicles & Machinery
Durham, N.C. – North Carolina Governor Roy Cooper’s announcement on Tuesday, February 7, 2023, that Kempower, an electric vehicle and machine charging company based in Finland, will create 601 jobs in Durham County over the next five years proves again that Durham continues to be a premier location for new investment. The company will invest approximately $41.25 million to locate its first United States manufacturing and distribution facility in Durham County.
“Kempower is on the cutting edge of the electric vehicle charging industry, and their investment here in Durham County will help promote new sustainable transportation options around the world,” said Durham County Board of Commissioners Chair Brenda Howerton. “This project is a win for Durham County on many levels. It not only aligns so well with our desired partnerships and community values, but brings exactly the types of jobs we are looking to recruit: hundreds of skilled manufacturing jobs paying a great wage but requiring only an associate’s degree or high school diploma. We are excited to welcome Kempower to Durham.”
Governor Cooper added, “North Carolina’s global reputation as a clean energy manufacturing powerhouse continues to grow. Electric vehicle charging stations are a key component of our transportation infrastructure and we welcome these high-wage clean energy jobs that Kempower brings to our state.”
Kempower Corporation (Nasdaq Nordic: KEMPOWR), a leading direct current (DC) charging technology provider headquartered in Finland, manufactures, and distributes a wide variety of electric vehicle (EV) charging solutions, serving the markets for public charging stations as well as large electric vehicle fleets and original equipment manufacturers (OEMs). The company’s superior software and distinctive dynamic power sharing solution ensures maximal power distribution during the charging process, leading to the best possible charging experience for drivers. Kempower has grown rapidly in Northern Europe, where EV drivers appreciate the company’s charging solutions’ reliability, quality, user friendliness and safety. With the new facilities in North Carolina, Kempower will start to produce National Electric Vehicle Infrastructure (NEVI) compliant DC fast-charging units in 2023 and gain the ability to directly supply its customers in the United States.
Established by the Bipartisan Infrastructure Law, the NEVI Program provides $109 million to North Carolina (N.C.) to create a network of fast-charging electric vehicle charging stations along designated major highways and in communities. The North Carolina Department of Transportation’s NEVI plan would ensure that there are least four DC-Fast Chargers at least every 50 miles on major highways.
“We think North Carolina is a perfect location for us and fulfills our high ESG requirements. I would like to thank the State of North Carolina for the fantastic support during the thorough evaluation process. We will make sure that the global Kempower team works together to successfully scale up the production in the U.S.,” said Kempower’s CEO Tomi Ristimäki. “Kempower is committed to make EV charging reliability a top priority. In the U.S., driving long distances is more common than in Europe, making the reliability of chargers an even more pressing issue. By having a tried and tested system in place to ensure the reliability of our chargers, we have the confidence that our chargers are fit to serve the continent’s EV drivers.”
Kempower’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. During the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $726.25 million. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
The Board of County Commissioners are scheduled to consider a local award to support the JDIG award at a board meeting in either February or March 2023.
“This investment, coupled with several others throughout the region, is helping to establish the Triangle as the pre-eminent place for the future of transportation,” said Economic Development Manager Matthew Filter. “The Triangle is renowned for its life sciences and tech ecosystem, but companies like Kempower are helping to expand our economy along new avenues by building the foundation for electrification of vehicles and other machinery. We look forward to working with Kempower and the new partnership opportunities this announcement brings.”
Partnering with Durham County on this project are the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Department of Public Instruction, North Carolina State University, the North Carolina Clean Energy Technology Center, Raleigh-Durham International Airport, Durham Technical Community College, the Durham Workforce Development Board, Capital Area Workforce Development, and the Greater Durham Chamber of Commerce.
For more information about this announcement, contact Durham County Economic Development Manager Matthew Filter at firstname.lastname@example.org or 919-560-9340.
More about this Economic Development Announcement: This new investment will bring a total of 601 jobs to Durham County in the next five years, paying an average wage of $71,181 plus benefits. However, you may see a different job figure (300 jobs paying an average wage of $88,440) within the State of North Carolina’s press release. This is because the State can only award JDIG funds for positions exceeding Durham County’s 2023 average wage of $86,686. For context, the State of North Carolina’s 2023 average wage is $62,248. The other approximately 300 positions under this threshold are highly desirable as well, as they start at approximately $50,000 plus benefits and only require a high school diploma and no related work experience.
Article originally posted by Durham County Government: https://www.dconc.gov/Home/Components/News/News/9409/31?backlist=%2f