Electric vehicle charging provider pledges 300 new jobs in Durham
A Finnish designer and maker of electric vehicle chargers, is coming to Durham with a pledge to create 306 new jobs within the next five years.
On Tuesday, the North Carolina Economic Investment Committee unanimously approved a job investment development grant worth up to $3 million for Kempower to establish an EV charger manufacturing facility in a pair of Durham buildings. The funding will be spread over 12 years and is dependent on Kempower meeting annual hiring and investment targets.
North Carolina also allocated up to an additional $1 million toward a utility fund that will help cover the cost of infrastructure improvements in the surrounding community.
In a statement following Tuesday’s announcement, Kempower said its new facilities will help the company directly supply its U.S. customer base. According to its state agreement, Kempower will invest $41 million in this project and offer average wages that hover right around Durham County’s average wage of $86,700.
North Carolina estimates the Kempower plant will increase net state revenue by $11.2 million over the next dozen years. To determine the future economic benefits of publicly funded projects, the state relies on a cost-benefit equation called the Walden Model, which was first developed by North Carolina State University economist Michael Walden in 2002.
Kempower is the latest clean-energy business backed by North Carolina tax incentives, following the Toyota EV battery plant in Randolph County, the assembly plant for the electric car company VinFast in Chatham County, as well as a number of smaller economic projects like a lithium-ion battery plant in Mebane.
“North Carolina’s global reputation as a clean energy manufacturing powerhouse continues to grow,” Gov. Roy Cooper said in a statement Tuesday. “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 plans to begin producing fast-charging units in North Carolina this year as the state strives to position more fast-charging EV stations along its major highways. Fast chargers, which use direct current, are essential to the state’s plans to position charging stations along main highways.
Created by the federal Infrastructure Investment and Jobs Act of 2021, the National Electric Vehicle Infrastructure (NEVI) Program gives North Carolina $109 million to build a network of EV chargers across the state. The North Carolina Department of Transportation’s NEVI plan includes setting at least four fast chargers along every 50 miles of major highways.
“In the U.S., driving long distances is more common than in Europe, making the reliability of chargers an even more pressing issue,” said Kempower CEO Tomi Ristimäki. “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.”
This story was produced with financial support from a coalition of partners led by Innovate Raleigh as part of an independent journalism fellowship program. The N&O maintains full editorial control of the work.
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