Governor Pat McCrory, N.C. Commerce Secretary John E. Skvarla, III, and the Economic Development Partnership of N.C. announced Qorvo, Inc. will expand its Guilford County presence with the opening of a new facility and will hire 100 employees during the next three years. The global provider of core technology and radio frequency (“RF”) solutions for mobile, infrastructure and aerospace/defense applications plans to invest $25 million in North Carolina over that period.
“North Carolina is a global hub for innovation and the ideal home for Qorvo’s expanding operations in Guilford County,” said Governor McCrory.“We welcome the company’s decision to expand its footprint right here with us.”
Since Governor McCrory took office in January of 2013, North Carolina has witnessed the net creation of nearly 240,000 private sectors jobs.
In early 2015, Hillsboro, Ore.-based TriQuint Semiconductor merged with RF Micro Devices to form Qorvo (NASDAQ: QRVO). RF Micro Devices was founded in Greensboro in 1991 and grew into an international provider of RF solutions that provide mobility, connectivity, and enhanced functionality for mobile devices. The two companies had combined revenues of $2.1 billion in 2014. They maintain joint corporate headquarters in Hillsboro, Ore., and Greensboro.
“Qorvo’s choice of Greensboro for this expansion showcases the exceptional technology talent companies find in our state,” said Secretary Skvarla. “It makes good business sense that we recognize our existing industries, especially those with deep entrepreneurial roots right here in North Carolina.”
Qorvo’s expanded operations will help accelerate the development of the company’s semiconductor products and solutions and enhance its industry leadership. Qorvo’s expanding staff will include new engineering jobs that will average around $80,000 per year. Guilford County’s overall annual wage is $43,581.
“We appreciate the outstanding support provided by the State of North Carolina as Qorvo builds on its technology and product leadership to serve our many global customers,” said Qorvo President and CEO Bob Bruggeworth. “North Carolina offers an excellent economic climate for growth and innovation as we continue to expand here and in our other locations.”
Qorvo’s expansion in North Carolina was made possible in part by a performance-based grant of up to $500,000 from the One North Carolina Fund. The One NC Fund provides financial assistance in support of local governments in creating jobs and attracting economic investment. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for grant funds. All One NC grants require a local government match.
In addition to North Carolina Commerce and EDPNC, other key partners in the project include the City of Greensboro, Greensboro Partnership, High Point Economic Development Corporation, Guilford County, Guilford County Workforce Development Board, Guilford Tech Community College, NC A&T University, UNC Greensboro, Duke Energy and Piedmont Natural Gas.