North Carolina Triad Chosen for Wolfspeed's Newest Chip Plant

Wolfspeed, a Durham silicon chip manufacturer, will build a massive new factory in Chatham County, expected to pour $5 billion into the growing rural county and create 1,800 new jobs.

State officials estimate Wolfspeed’s investment in the Chatham plant will add $17.5 billion to the state’s economy by 2045 and net the state $312 million in revenue. The announcement represents another major economic boom for growing Chatham County. In March, the Vietnamese automotive startup VinFast announced it would build a 7,500-worker assembly plant in the southeastern portion of the county. It’s scheduled to become operational in 2024.

And the plant will be just down the road from a Toyota car battery plant now under construction on another mega site in Randolph County. Toyota says it expects to invest about $3.8 billion in the plant and eventually employ about 2,100 people there.

Wolfspeed was founded in 1987 by a group mostly made up of N.C State University graduate students. The company has been eyeing expansion for months as the demand for electric vehicles, which use silicon chips, has exploded.

The Triangle to Triad corridor means that rural counties such as Chatham outside of Wake, Durham, Forsyth and Guilford County will share in the economic benefits of the new manufacturing.

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