Cannonsburg, Pennyslvania-based Pennsylvania Transformer Technology, which makes power and distribution transformers, plans to invest $102.5 million and add 217 jobs to expand its operations in Raeford in Hoke County, the state announced Monday.
PTT, a subsidiary of Houston-based Quanta Services, has a nearly century-old history of making products for electric utility, municipal power, renewable energy and industrial markets. It plans to add 300,000 square feet in two plants in Raeford. The expansion is designed to increase its domestic manufacturing capacity of transformers in the United States.
PTT has a 56,000-square-foot facility in Raeford, where about 77 people work. It has 374 employees in Cannonsburg, which is near Pittsburgh.
“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,” said Sandeep Chakravarty, president of PTT. “ This new state-of-the-art facility will not only enhance our production capacity, it will provide economic benefits to the community by creating additional well-paying, high-quality jobs and more broadly, contribute to the country’s economic growth and the energy transition.”
The average wage for the new salaries is $64,949, exceeding the Hoke County average of $42,659.
A performance-based grant of $800,000 from the One North Carolina Fund will support PTT’s expansion in Hoke County. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment.
Quanta, a utility infrastructure company, acquired PTT in 2023 for about $300 million. At the time, PTT had annual revenues of about $100 million. Quanta has about 53,000 employees and annual revenue topping $20 billion.