Tuesday, February 7, 2023

Manufacturer of Electric Vehicle Charging Stations Selects Durham County for New Production Facility Kempower will invest $41 million and create 300 jobs

Kempower Inc., a manufacturer of charging stations for electric vehicles, will create more than 300 jobs as it locates a new manufacturing facility in Durham County, Governor Roy Cooper announced today.
Raleigh
Feb 7, 2023

Kempower Inc., a manufacturer of charging stations for electric vehicles, will create more than 300 jobs as it locates a new manufacturing facility in Durham County, Governor Roy Cooper announced today. The company is planning to invest $41 million into the project, demonstrating again the growing momentum of North Carolina’s clean energy economy.

"North Carolina’s global reputation as a clean energy manufacturing powerhouse continues to grow,” said Governor Cooper. “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 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 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 National Electric Vehicle Infrastructure (NEVI) Program​ provides $109 million to North Carolina to create a network of fast-charging electric vehicle charging stations along designated major highways and in communities. The N.C. DOT’s NEVI plan would ensure that there are least four DC-Fast Chargers at least every 50 miles on major highways. Find out more about North Carolina’s NEVI plan here.

“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.”

“North Carolina’s manufacturing workforce continues to deliver a competitive edge to companies like Kempower,” said North Carolina Commerce Secretary Machelle Baker Sanders. “We never take for granted the importance of a strong, well-trained workforce. As our First in Talent strategic plan makes clear, we’ll continue to invest in our people and the educational systems that create opportunities for everyone.”

The North Carolina Department of Commerce led the state’s support for the company during its site evaluation and decision-making process.

Although wages will vary depending on the position, the average salary for the new positions will grow to $88,440 in the project’s third year. The current average wage in Durham County is $86,686.

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. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $726.25 million. Using a formula that takes into account the new tax revenues generated by 306 new jobs, and in consideration of a capital investment of $41.2 million, the JDIG agreement authorizes the potential reimbursement to the company of up to $3,010,500, spread over 12 years. 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.

Because Kempower chose a site in Durham County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving just over $1 million into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Durham, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state.

“We’re excited to welcome these new clean energy jobs to our region,” said N.C. Senator Natalie Murdock. “Kempower’s decision to locate operations in Durham County shows people around the world that we’re the perfect location for tomorrow’s leading industries.”

“Many people in our area have worked behind the scenes to bring Kempower to our area,” said N.C. Representative Zack Hawkins. “Our community welcomes this global company to Durham and the Research Triangle region. All of us will continue to help its leaders connect to our community and employees find success in North Carolina.”

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were 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, Durham County and the Greater Durham Chamber of Commerce. 

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