Woofspeed Selects North Carolina for its Semiconductor Manufacturing Plant
Wolfspeed, a global leader in silicon carbide semiconductor manufacturing, announced that it has chosen Siler City, North Carolina, as the location for its newest semiconductor manufacturing plant. The company plans to invest more than $5 billion in this project and will create 1,800 jobs, becoming the largest capital investment for an economic development project in North Carolina’s history. The state will see a $17.5 billion economic impact over the next 20 years.
Wolfspeed was founded over 30 years ago in North Carolina on the campus of North Carolina State University and is headquartered in Durham. The company has 60% of the world’s market share for silicon carbide materials used in semiconductors and other manufacturing efforts. The new factory will have 10 times more output than Wolfspeed’s current silicon carbide factory in Durham, which is the largest of its kind in the world, and will increase the company’s capacity to manufacture and process silicon carbide materials used in semiconductors. Semiconductors are microchips used in electric vehicles (EVs), 5G networks, offshore wind and other clean energy applications. Wolfspeed’s semiconductors will allow those products to run more efficiently and use less energy.
“North Carolina’s diverse and highly skilled workforce, research and educational institutions, and leadership in clean energy, technology and EVs give companies like Wolfspeed the resources to further innovate,” said Christopher Chung, CEO of the Economic Development Partnership of North Carolina (EDPNC). “Wolfspeed was born here in North Carolina, and we look forward to it having a continued presence in our state and a positive impact on the state’s economy for many years.”
For over a year, the EDPNC provided Wolfspeed comparative data for real estate, labor, and cost of business, as well as collaborated with the company to decide on the ideal site. The EDPNC’s Business Recruitment Managers helped the company connect with state and local entities and strategic partners to further assist Wolfspeed in its decision. The Chatham-Advanced Manufacturing site was chosen for its proximity to Wolfspeed’s headquarters at the Research Triangle Park and to existing operations, and to research and development partners like North Carolina Agricultural and Technical State University and North Carolina State University.
The Economic Development Partnership of North Carolina would like to recognize the North Carolina Department of Commerce as well as other key partners involved in this project, including the North Carolina General Assembly, the North Carolina Department of Transportation, the North Carolina Department of Environmental Quality, the North Carolina Community College System, the GoldenLEAF Foundation, Chatham County, the Chatham County Economic Development Corporation, the Town of Siler City, Randolph County, the City of Asheboro, the Town of Ramseur, the Town of Franklinville, the Randolph County Economic Development Corporation, Duke Energy and Dominion Energy.
