Texas superconductor wire manufacturer picks Chatham County for 333-jobs project
Through a new subsidiary, the Houston-based wire company MetOx has committed to create 333 jobs and invest nearly $194 million at a future facility in Chatham County.
The entity, which MetOx has not yet formed, promises to hire these positions between 2026 and 2029, according to a job development investment grant the North Carolina Economic Investment Committee (EIC) approved during a meeting Tuesday.
Officials did not say where in Chatham the plant will be built. Under the grant, the jobs would pay an average wage of at least $75,000.
Founded in 1998, MetOx manufacturers high temperature superconductor (HTS) cables, which it says provides superior performance to standard copper wires due in part to their lack of electrical resistance. In North Carolina, MetOx’s subsidiary plans to produce the proprietary Xeus wire, which the parent company boasts can function at higher temperatures.
At the EIC meeting, state director of commerce finance Mark Poole said MetOx transmission wires strengthen the U.S. power grid, run data centers and support transportation electrification.
North Carolina’s incentive package for the factory totals more than $4.2 million, including roughly $3.2 million in direct tax benefits if the new entity achieves its hiring and investment pledges.
Local incentives announced Tuesday added another $5.7 million to support the factory, which was nicknamed Project Buffer.
North Carolina officials say MetOx considered placing the plant in Texas, Ohio, Florida or South Carolina before settling on Chatham, which borders western Wake County. Poole said MetOx chose Chatham for the area’s quality of labor, local public-private-academic partnerships, and utility costs.
This story was originally published December 17, 2024 at 12:45 PM.
