North Raleigh Today

Governor Josh Stein announced that Syntec Precision Technology Corporation will invest $8 million to establish its first North American production and warehouse facility in Henderson, Vance County. This move is expected to create 34 new jobs in the area.

“Syntec has made a great decision to make its North American home in our state,” said Governor Stein. “Global manufacturers like Syntec need strong communities with a steady pipeline of talent and infrastructure to support their long-term growth strategies, and we’re proud that Vance County fits the bill.”

Syntec Precision Technology specializes in producing precision machining parts for industries such as hydraulic, life sciences, and transportation. The company offers research and development, manufacturing, assembly, and testing services. Their expansion into the United States aims to support the production and distribution of high-quality parts for medical devices, diagnostic equipment, orthopedic products, and new equipment.

Owners Lei Wang and Bin Wang expressed their enthusiasm: “On behalf of my family and our team, I am thrilled to announce our plans to establish a manufacturing facility in North Carolina... We are excited to contribute to the growth and success of this vibrant community.”

N.C. Commerce Secretary Lee Lilley highlighted the state's workforce: “North Carolina has the largest manufacturing workforce in the southeastern United States... Our ‘First in Talent’ workforce development system continues to provide a highly trained, dedicated workforce for dynamic manufacturers like Syntec.”

The positions created by Syntec will have an average annual wage of $46,985 compared to Vance County's average wage of $45,193. This could lead to an annual payroll impact exceeding $1.5 million.

To aid Syntec's relocation efforts, a performance-based grant of $100,000 from the One North Carolina Fund was awarded. The fund assists local governments in attracting economic investments by providing financial assistance contingent upon job creation and capital investment targets being met.

“We welcome these new jobs to Vance County,” said N.C. Senator Lisa S. Barnes. “Syntec is a fantastic addition to our existing supply chain.”

Key partners involved include various state departments, educational institutions such as Vance-Granville Community College, regional councils like Kerr-Tar Regional Council of Governments, local government bodies including Vance County and Henderson-Vance County Economic Development Commission, Duke Energy, and the City of Henderson.