North Raleigh Today

Governor Josh Stein has announced a significant expansion for Pennsylvania Transformer Technology, LLC (PTT) in Raeford, North Carolina. The domestic manufacturer plans to invest over $102.5 million and create 217 new jobs in Hoke County.

“PTT’s expansion is an outstanding economic development win for Hoke County and the entire state of North Carolina,” said Governor Stein. “North Carolina is home to the largest manufacturing workforce in the Southeast and a central East Coast location, setting up our rural communities for more success.”

The company, headquartered in Canonsburg, Pennsylvania, will build two new facilities totaling 300,000 square feet to increase transformer production capacity and address supply chain shortages.

“We built our first factory in Hoke County, North Carolina back in 1992 and have been proudly manufacturing power transformers in this community for over 30 years,” stated Sandeep Chakravarty, President of PTT. “We are thrilled to further invest in and expand our operations...”

N.C. Commerce Secretary Lee Lilley highlighted the investment as proof of North Carolina's business-friendly environment: “When companies that currently operate in our state reinvest here, it validates our efforts...”

The average salary for the new positions is expected to be $64,949 annually. This could result in a positive payroll impact exceeding $14 million locally.

A performance-based grant of $800,000 from the One North Carolina Fund will support PTT's expansion. Companies must meet job creation targets to qualify for these funds.

“This is outstanding news for Raeford and Hoke County,” commented N.C. Senator Danny Earl Britt Jr., while N.C. Representative Garland E. Pierce noted PTT’s longstanding relationship with Raeford as a sign of confidence.

Key partners include various state departments and local organizations such as the Economic Development Partnership of North Carolina and Piedmont Natural Gas.