US Forged Rings to Establish Manufacturing Hub in North Carolina
US Forged Rings, a burgeoning enterprise focused on the production of steel piping and components for industrial clientele, announced on Thursday the intention to establish a manufacturing facility in Hertford County.
This ambitious endeavor promises to inject over 700 lucrative job opportunities and attract $875 million in fresh investment to the northeastern region of North Carolina.
“The decision by US Forged Rings to invest in Hertford County is a robust affirmation of our state’s exceptional workforce,” stated Governor Josh Stein in an official communiqué.
“We are dedicated to providing the talent that businesses require, thereby fostering well-paying employment opportunities in every corner of our state, including this pivotal project in northeastern North Carolina.”
The initial two phases are anticipated to generate 625 jobs; however, additional phases may escalate this figure further, according to previous reports by WRAL detailing the company’s strategy.
Completion of all project phases is projected by the conclusion of 2030, with positions offering an average annual salary exceeding $80,000—substantially above the county’s average.
In early 2023, USFR unveiled plans to construct a production facility on the East Coast, incorporating fabrication and forging plants aimed at servicing sectors such as wind energy, nuclear energy, construction, shipping, mining, and various heavy industries.
Furthermore, the company is gearing up to produce components for the oil and gas sector, in addition to tubular products for the defense and aerospace industries.
President Giacomo Sozzi informed WRAL in September that the company has been meticulously evaluating properties in North Carolina and beyond for a comprehensive piping facility, alongside a large-scale fabrication and forging and ring-rolling facility.
Key site attributes under consideration included accessibility to waterways, rail lines, and utilities—elements essential for the efficient transportation of sizable industrial components. Moreover, real estate costs and the availability of skilled labor were significant factors in their deliberations.
The USFR facility will be strategically located adjacent to a Nucor plant near Cofield, North Carolina. Nucor, a Charlotte-based steel manufacturer, has been actively acquiring land in Hertford County and maintains a supply-chain partnership with USFR.
The Nucor facility is situated along the Chowan River, which leads into the Albemarle Sound, part of the Intracoastal Waterway. Additionally, the North Carolina & Virginia Railroad runs through Cofield, seamlessly connecting to the existing Nucor plant.
The proximity to Nucor is expected to catalyze USFR’s objective of producing goods entirely within the United States—a business strategy engineered to alleviate potential supply chain disruptions and fluctuations in international trade policies.
As Sozzi conveyed to WRAL, the nation necessitates a more dependable source of fabricated steel products, especially as it embarks on fortifying power infrastructure to address the demands imposed by data centers and emerging technologies.
In a statement issued on Thursday, Sozzi remarked that this investment “will reinstate well-paying jobs in America, reduce reliance on imports, lessen dependence on foreign suppliers, enhance the resilience of the U.S. economy, and mitigate uncertainties regarding the costs and timelines for constructing power plants and other essential infrastructure that the country desperately requires.”
Nucor, which has committed billions in capital investments nationwide to meet domestic steel requirements, acquired extensive tracts of land in Hertford County last year, as property records indicate.
A request for additional information regarding Nucor’s plans in the county was not immediately addressed by a company representative.
State and local authorities have diligently collaborated for months to persuade USFR to establish operations in North Carolina, as sources familiar with the project informed WRAL.
Notably, state and county documentation indicate substantial growth potential for the project.
In a recent legislative session, state lawmakers authorized $51 million for a public dock and an additional $11 million for a public road capable of accommodating industrial traffic in Hertford County.
This dock is designed to facilitate access to the Chowan River, located near the Nucor plant. Although the legislation did not specifically mention the company, it noted that the dock would support a “manufacturer of steel forgings and large-diameter steel fabrications,” anticipating a $974 million investment, which would create approximately 835 jobs.
USFR identifies itself as a “manufacturer of steel forgings and large-diameter steel fabrications” on its official website.
Additionally, county officials are contemplating an economic development agreement with the manufacturer.
A draft of the proposed economic development agreement between Hertford County and USFR outlines an $875 million investment spread across three phases.
The draft anticipates the initial phase to be completed by the end of 2028, followed by the second phase in 2029, and the third phase by 2030.
It aims to create at least 725 jobs, offering an average annual salary of $85,000—77% above the county’s private-sector job average, according to documentation obtained by WRAL.
County officials are slated to deliberate on the approval of the agreement in an upcoming meeting on Monday. Currently, the company is not expected to receive discretionary job-grant funding from the state.
North Carolina Commerce Secretary Lee Lilley remarked that the company’s interest in the state is largely attributed to its capacity to offer specialized training along with a wellspring of talented labor.
In addition, the company has been engaged in discussions regarding a community investment agreement with the county that could allocate funds towards technical training at Roanoke Chowan Community College, employee housing subsidies, and contributions to public safety initiatives, as outlined in a draft of the agreement.
Source link: Wral.com.
