The North Carolina Railroad Company (NCRR), a Raleigh-based rail transportation company, recently announced it will invest $400,000 though its economic development initiative NCRR Invests to expand Pennsylvania Transformer Technology’s manufacturing site in Raeford, N.C.
Pennsylvania Transformer Technology is a power and distribution transformer manufacturer. Its products are used by the electric utility, municipal power, renewable energy, and industrial markets. The company will build two facilities, adding an additional 300,000 square feet.
Expansion will increase the company’s manufacturing capacity for transformers.
NCRR’s investment will help offset the costs of construction and materials. When completed, the site will produce an estimated 60 rail cars annually.
“We are proud to partner with Pennsylvania Transformer Technology as they grow in Hoke County,” Carl Warren, NCRR president and CEO, said. “Investing in rail infrastructure not only strengthens the energy supply chain but also drives economic growth and opportunity in the region. This project exemplifies how strategic rail investments can fuel industrial expansion and job creation across North Carolina.”
Expansion is estimated to result in $102.5 million in investments and create approximately 217 jobs.
NCRR is one of several project partners. Other partners include North Carolina Department of Transportation and its Rail Division, and Piedmont Natural Gas.