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Triangle Innovation Point Megasite Chatham County

KJHburg

By KJHburg
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KJHburg Ecumenopolis

KJHburg

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Since this site is making big news we need a place to organize all the information about hopefully the upcoming VinFast auto assembly plant here.  There is a MAJOR announcement taking place tomorrow .  From the Triangle Biz Journal today

""An electric car assembly plant could be the big one – the white whale economic developers have been hoping to lure to North Carolina for decades.  With sources saying VinFast, a Vietnamese carmaker, is targeting Triangle Innovation Point in Chatham County for a manufacturing operation, the state may finally land that whale.  The state plans an economic development announcement Tuesday at 2 p.m.""

https://www.bizjournals.com/triangle/news/2022/03/28/carmaker-eyeing-chatham-co-could-spark-more-growth.html

https://www.triangleinnovationpoint.com/   webpage for site

https://wraltechwire.com/2022/03/28/reports-electric-car-maker-considers-chatham-county-site-for-plant-13000-jobs/

as this could be the BIGGEST JOB ANNOUNCEMENT in state history it does deserve its own thread.  I also heard a major Fedex warehouse is also planned on some of the site. 

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KJHburg
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It is official NC will have its first auto assembly plant come July 2024 when the VinFast plant opens. ""It's official: Vietnamese carmaker VinFast has picked Chatham County for 7,500 jobs over f

carolina1792
carolina1792

The location is almost exactly the same distance from Downtown Raleigh and Downtown Durham but of course, it's a straight shot from HWY 1 if you live in Raleigh. However, given the lower wages it will

cityboi
cityboi

The state has marketed Core North Carolina very hard and over night (within 6 months) has landed major manufacturing projects in three of the four megasites along future I-685 from Greensboro to the F

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KJHburg Ecumenopolis

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It is official NC will have its first auto assembly plant come July 2024 when the VinFast plant opens.

""It's official: Vietnamese carmaker VinFast has picked Chatham County for 7,500 jobs over five years. State officials said Tuesday the carmaker picked Chatham County over competing locations in 11 other states.  It came down to North Carolina and Savannah, Georgia, officials said.

As Triangle Business Journal first reported last week, VinFast plans to build a manufacturing operation at Chatham County's Triangle Innovation Point, a 2,100-acre megasite also looked at by companies such as semiconductor manufacturer Micron.  Tuesday, the state's Economic Investments Committee, part of the North Carolina Department of Commerce, made it official, approving $854 million in state incentives for the project.  

The company plans to create the jobs over five years and invest $4 billion by 2026.  Salaries are expected to average more than $51,000.  The plan is to create "a world-class, state-of-the-art assembly production plant," officials said. The facility will also support battery manufacturing at full build-out. A full-sized sports utility vehicle and a mid-sized sports utility vehicle are among the products expected to come off the line. The goal is to reach production levels of 200,000 vehicles per year.""

from Triangle Biz Journal 

Here is the press release

VinFast Selects Chatham County, Triangle Innovation Point for New Facility - Chatham County Economic Development Corporation (chathamedc.org)

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Richhamleigh, DC Burg

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Cooper's team is crushing economic development.  North Carolina's economic diversity is amazing.  I suspect only Texas and California, maybe Ohio and New York(?) can compare to the range of economic generators NC now possesses  -- from finance to bio to automaking to aircraft, tourism, agriculture...?  The only thing missing is TV and Film...  :tw_angry:

20 hours ago, KJHburg said:

Since this site is making big news we need a place to organize all the information about hopefully the upcoming VinFast auto assembly plant here.  There is a MAJOR announcement taking place tomorrow .  From the Triangle Biz Journal today

""An electric car assembly plant could be the big one – the white whale economic developers have been hoping to lure to North Carolina for decades.  With sources saying VinFast, a Vietnamese carmaker, is targeting Triangle Innovation Point in Chatham County for a manufacturing operation, the state may finally land that whale.  The state plans an economic development announcement Tuesday at 2 p.m.""

https://www.bizjournals.com/triangle/news/2022/03/28/carmaker-eyeing-chatham-co-could-spark-more-growth.html

https://www.triangleinnovationpoint.com/   webpage for site

https://wraltechwire.com/2022/03/28/reports-electric-car-maker-considers-chatham-county-site-for-plant-13000-jobs/

as this could be the BIGGEST JOB ANNOUNCEMENT in state history it does deserve its own thread.  I also heard a major Fedex warehouse is also planned on some of the site. 

Thank you for your posts K'burg!

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RALNATIVE Burg

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43 minutes ago, Phillydog said:

Cooper's team is crushing economic development.  North Carolina's economic diversity is amazing.  I suspect only Texas and California, maybe Ohio and New York(?) can compare to the range of economic generators NC now possesses  -- from finance to bio to automaking to aircraft, tourism, agriculture...?  The only thing missing is TV and Film...  :tw_angry:

Thank you for your posts K'burg!

Wilmington used to be a big player in TV and film. Not sure how much these days.

 

 

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KJHburg Ecumenopolis

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National stories roll in about VinFast

VinFast Picks North Carolina For $2B Electric Vehicle Assembly Plant (businessfacilities.com)

VINFAST TO BUILD EV FACTORY IN NORTH CAROLINA | Markets Insider (businessinsider.com)

VinFast to build $2B plant in N. Carolina | Automotive News (autonews.com)

Vietnamese EV brand Vinfast announces North American manufacturing site will be built in North Carolina - Electrek

Vietnam’s VinFast to invest $2B in North Carolina EV factory | TechCrunch

Vietnamese Carmaker VinFast Will Build Electric SUVs, Buses, and Batteries In North Carolina (motortrend.com)

success breeds success and I think Toyota's EV battery plant at the  Greensboro Randolph county megasite helped with this tremendously.  All of NC will benefit but especially the greater Triangle area. 

 

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Richhamleigh, DC Burg

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19 minutes ago, KJHburg said:

2021 was a record year for NC films and tv production and most is centered in Wilmington.  

2021 Sets Records for Film in North Carolina (filmnc.com)

Indeed!  Partly because NC has a much broader range of filming locations than our friends to the South.  Film and TV are naturals for NC.  I believe even GA-based productions end up shooting in NC because it's a more diverse location.

16 minutes ago, KJHburg said:

National stories roll in about VinFast

VinFast Picks North Carolina For $2B Electric Vehicle Assembly Plant (businessfacilities.com)

VINFAST TO BUILD EV FACTORY IN NORTH CAROLINA | Markets Insider (businessinsider.com)

VinFast to build $2B plant in N. Carolina | Automotive News (autonews.com)

Vietnamese EV brand Vinfast announces North American manufacturing site will be built in North Carolina - Electrek

Vietnam’s VinFast to invest $2B in North Carolina EV factory | TechCrunch

Vietnamese Carmaker VinFast Will Build Electric SUVs, Buses, and Batteries In North Carolina (motortrend.com)

success breeds success and I think Toyota's EV battery plant at the  Greensboro Randolph county megasite helped with this tremendously.  All of NC will benefit but especially the greater Triangle area. 

 

Thank you!  Waiting on the NYTimes and CNBC to pick up the story (they have recently with other auto-related stories from other states. )

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cityboi Metropolitan Area

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The state has marketed Core North Carolina very hard and over night (within 6 months) has landed major manufacturing projects in three of the four megasites along future I-685 from Greensboro to the Fayetteville area. A Toyota EV battery plant with possible future expansion plan for a Toyota electric vehicle assembly plant at the Greensboro-Randolph Megasite, Boom Supersonic Jet super factory at the Piedmont Triad  International Airport Megasite and now  a major electric vehicle assembly plant at the Chatham County megasite in the Triangle. With the announced of Vinfast, housing is going to boom in southwest Raleigh and Wake County. North Carolina is in a good position now because electric cars are beginning to take off and our state will be one of the country's biggest manufacturers of electric vehicles with the combination of Vinfast and Toyota. Core North Carolina could become our advanced manufacturing version of Silicone Valley and is going to economically tie the Triangle with the Triad.

Screenshot_20220330-002333_Chrome.jpg

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RALNATIVE Burg

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13 hours ago, cityboi said:

The state has marketed Core North Carolina very hard and over night (within 6 months) has landed major manufacturing projects in three of the four megasites along future I-685 from Greensboro to the Fayetteville area. A Toyota EV battery plant with possible future expansion plan for a Toyota electric vehicle assembly plant at the Greensboro-Randolph Megasite, Boom Supersonic Jet super factory at the Piedmont Triad  International Airport Megasite and now  a major electric vehicle assembly plant at the Chatham County megasite in the Triangle. With the announced of Vinfast, housing is going to boom in southwest Raleigh and Wake County. North Carolina is in a good position now because electric cars are beginning to take off and our state will be one of the country's biggest manufacturers of electric vehicles with the combination of Vinfast and Toyota. Core North Carolina could become our advanced manufacturing version of Silicone Valley and is going to economically tie the Triangle with the Triad.

Screenshot_20220330-002333_Chrome.jpg

This whole Carolina Core concept is a bunch of crock! Just a marketing gimmick invented by people in the Triad so that region looks more successful than it really is. Furthermore I do not believe that the state of NC is pushing this "Carolina Core" concept. The state is pushing the individual megasites, not some madeup pie in the sky concept.

If you notice that map, neither Raleigh nor Durham are directly included in the zone...only Greensboro and WS.

What a bunch of BS! 

 

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The 7,500-job manufacturing plant is expected to begin construction this year, and VinFast projects the facility to start pumping out vehicles in July 2024.

The expedited development timeline will mean Chatham County will need to be ready for what will be one of the most significant economic development projects ever announced in the South.

"The county's already been preparing for this," said Karen Howard, chair of the Chatham County Board of Commissioners. "We were anticipating we would have something land at all of the megasites, and with that would come other industry and residential residences."

The manufacturing facility will transform Chatham County, which is today home to over 76,000 people. The community has for years been known as a hotbed for home developers, but lacked the industry heft of nearby Wake and Durham counties.

It's not just the 7,500 VinFast jobs that will impact Chatham County. Suppliers often locate close to an original equipment manufacturer (OEM) so as to cut down on logistics costs. According to research from the Economic Policy Institute – a nonprofit think tank out of Washington, D.C. – every 100 manufacturing jobs for products like automobiles support another 744 indirect jobs.

https://www.bizjournals.com/triangle/news/2022/03/30/vinfast-plant-to-transform-chatham-county.html

 

 

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DownEast Whistle-Stop

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You can call it BS if you like. But, the results don't lie. 3 monster announcements is short order is pretty remarkable. The "gimmick" of making an area look successful for potential clients is the definition of economic development.  The Triangle is shining brighter than the sun at the moment. Neither Raleigh or Charlotte were hit as hard by the loss of traditional industries as the Triad. Let these guys have a little bit of spotlight. It ain't gonna kill ya. They already let ya'll have the name... Triangle.

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RALNATIVE Burg

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9 minutes ago, DownEast said:

You can call it BS if you like. But, the results don't lie. 3 monster announcements is short order is pretty remarkable. The "gimmick" of making an area look successful for potential clients is the definition of economic development.  The Triangle is shining brighter than the sun at the moment. Neither Raleigh or Charlotte were hit as hard by the loss of traditional industries as the Triad. Let these guys have a little bit of spotlight. It ain't gonna kill ya. They already let ya'll have the name... Triangle.

They let us have the name Triangle...

ROTFLMAO

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cityboi Metropolitan Area

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1 hour ago, RALNATIVE said:

This whole Carolina Core concept is a bunch of crock! Just a marketing gimmick invented by people in the Triad so that region looks more successful than it really is.

If you notice that map, neither Raleigh nor Durham are directly included in the zone...only Greensboro and WS.

What a bunch of BS! 

Two of the four megasites are in the Triangle so this greatly benefits Raleigh/Durham area as well. Also consider the number of jobs of Vinfast. Its more than Toyota and Boom Supersonic combined. This is huge for the Triangle.

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RALNATIVE Burg

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5 hours ago, cityboi said:

Two of the four megasites are in the Triangle so this greatly benefits Raleigh/Durham area as well. Also consider the number of jobs of Vinfast. Its more than Toyota and Boom Supersonic combined. This is huge for the Triangle.

 

That doesn't change the fact that this "Carolina Core" concept is bogus and intended to be deceptive at it's core.

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KJHburg Ecumenopolis

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The next megasite I predict to get picked would be the Siler City Chatham site and despite its location in Chatham County it will equally benefit the Greensboro metro with overflow into RandolphCounty.      But the Person county megasite is an excellent site north of Durham.   I have been telling people the Charlotte metro needs to gets some sites certified and designated as megasites especially points north Iredell and Catawba counties.  This is a great win for the entire state.  I think Lee and Chatham counties will benefit greatly and some people will live in southern Wake county but since it is so expensive I think most of the employees will look south and east and west but less so towards Wake unless they are the  top paid employees. 

how the incentives will work

https://wraltechwire.com/2022/03/30/whats-north-carolinas-cost-for-landing-the-vinfast-auto-plant-whats-the-payoff/

NC's megasite inventory

https://edpnc.com/megasites/

from the Triangle Biz Journal

""VinFast likes to move fast.  The Vietnamese automaker completed construction of its factory in Haiphong, Vietnam, and developed its first three car models in just 21 months. The company itself has only existed for four years. And negotiations with the state of North Carolina for its new manufacturing facility came together quickly, too.  "After like three weeks of negotiation and hard work by both VinGroup and VinFast teams and the governor's office, we have finally reached this stage," said VinFast Global CEO Le Thi Thu Thuy on Tuesday when announcing that Triangle Innovation Point in Chatham County would be home to the company's 7,500-job manufacturing facility.  For development of the new North Carolina manufacturing site, VinFast is again looking to move quickly as the goal is to start producing vehicles by July 2024, just over two years from now.  The company is also looking to put its stamp on the U.S. markets, as Thuy said last year the company was considering an initial public offering that would value the company between $25 billion and $60 billion.""

""The first phase is going to be the car EV manufacturing plant with 150,000 vehicles a year, probably with a line for electric buses. So that would be the first stage. And that's something that we'll go into, as soon as we get the building permit, to start construction on that. Like I said today, we would like to have the SUV and bus by July 2024. So I had to beg the governor, '"Please give us the permit quickly so we can start building because it's like two years away."""

https://www.bizjournals.com/triangle/news/2022/03/30/ceo-vinfast-will-move-quickly-in-chatham-county.html

 

 

 

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carolina1792 Whistle-Stop

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The location is almost exactly the same distance from Downtown Raleigh and Downtown Durham but of course, it's a straight shot from HWY 1 if you live in Raleigh. However, given the lower wages it will benefit the region immediately around the location more.  Plus Southern Pines/Sanford, Fayetteville areas. 

Edited by carolina1792
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KJHburg Ecumenopolis

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Vinfast will begin site prep this month on their new auto assembly plant and has already posted some jobs locally.

https://wraltechwire.com/2022/07/15/site-prep-for-4b-chatham-car-plant-to-begin-soon-some-jobs-already-posted/

Jobs link

https://www.linkedin.com/posts/vinfast_vinfast-uss-factory-will-create-a-major-activity-6948554071884595200-4zuG

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