Syntec Precision Technology to Create 34 Jobs in Vance County, NC

Syntec Precision Technology Expands to North Carolina, Creating New Job Opportunities

Vance County, North Carolina is set to witness an economic boost as Syntec Precision Technology Corporation, a key player in precision machining, announces its plans to establish a production and warehouse facility in Henderson. This move will generate 34 new jobs and involve an $8 million investment in the region.

Governor Josh Stein expressed confidence in Vance County’s potential to support Syntec’s expansion, stating, “Syntec has made a great decision to make its North American home in our state.” He emphasized the importance of communities with robust talent and infrastructure for global manufacturers like Syntec.

Specializing in parts for the hydraulic, life sciences, and transportation sectors, Syntec Precision Technology offers a wide range of services including research, development, manufacturing, assembly, and testing. The new U.S. facility aims to enhance the production and distribution of parts for medical devices, diagnostic tools, and orthopedic products.

Owners Lei Wang and Bin Wang expressed their appreciation for the local support during the expansion process. They stated, “We are deeply grateful to the State of North Carolina, Vance County, the Economic Development Partnership of North Carolina, and the NC Community College System, for their unwavering support and encouragement,” highlighting the role these partnerships played in realizing their vision.

“North Carolina has the largest manufacturing workforce in the southeastern United States,” noted N.C. Commerce Secretary Lee Lilley, attributing this to the state’s “First in Talent” workforce development system that provides skilled personnel for companies like Syntec.

The new roles will offer an average annual salary of $46,985, surpassing Vance County’s average of $45,193, and are projected to contribute over $1.5 million to the local economy annually.

Supporting Syntec’s expansion, a $100,000 performance-based grant from the One North Carolina Fund has been awarded, contingent on the company meeting specific employment and investment goals. This grant requires matching funds from local governments, ensuring that resources are effectively allocated to stimulate economic growth.

N.C. Senator Lisa S. Barnes expressed enthusiasm for Syntec’s arrival, saying, “We welcome these new jobs to Vance County.” She views Syntec as a valuable addition to the area’s industrial ecosystem.

This development is backed by several organizations, including the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, Vance-Granville Community College, and Duke Energy, all collaborating to foster growth in the region.