GOV. EASLEY ANNOUNCES 27 JOBS IN HOKE COUNTY 

One North Carolina Fund Grant Helps Bring $1 Million PTTI Investment in Raeford  

Gov. Mike Easley announced that Pennsylvania Transformer Technology Inc., a major producer of power transformers, is expanding its facility in Hoke County.  The expansion, which will create 27 new jobs and a company investment of $1 million, was made possible in part by a $45,000 One North Carolina fund grant.

“North Carolina ranks first in manufacturing in the Southeast and seventh in the nation, making this industry a leading contributor to our state’s economy,” said Easley.  “Our highly skilled workforce and a top-ranked business climate have attracted thousands of manufacturing businesses to the state and continue to help existing companies such as Pennsylvania Transformer Technology expand here.”

PTTI makes power transformers and voltage regulators for investor-owned electrical utility, public power, municipal power and industrial markets.  The Pennsylvania-based company operates a facility in Raeford, which specializes in small power transformer production.

The company will add 27 workers to the 29 currently employed at the Raeford plant. Salaries for these new positions will vary by job type, but the overall average annual wage will be $26,000 not including benefits, which is higher than the Hoke County average wage of $23,764.

Company President Ravi Rahangdale said several factors led PTTI to expand in North Carolina. “In the long term, a new building could lower our operating costs,” Rahangdale said. “Also, we started in this area in 1988 and it’s hard to cut your roots.” 

“This investment in our community shows that North Carolina’s focus on education, business and quality-of-life is paying off,” said Sen. Daniel Weinstein (D-Hoke, Robeson). “We’re pleased to that PTTI is nearly doubling its Raeford workforce, and we look forward to a relationship with this important employer.”

“I applaud the cooperative efforts of state and local officials to bring these jobs to Hoke County,” said Rep. Garland Pierce (D-Hoke, Robeson, Scotland). “I will continue to work in the General Assembly for policies that help companies such as PTTI continue to grow in our state.”

The One North Carolina Fund assists the state in industry recruitment and expansion by providing financial assistance to attract business projects that will stimulate economic activity and create new jobs in the state.  One North Carolina Fund grants require and are contingent upon local matching funds.  Through the use of this fund, more than 28,000 jobs and $4 billion in investment have been created since 2001; to date, 42 percent of all .

One NC grants have been awarded to North Carolina companies.

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