Old North News

Governor Josh Stein has announced that Syntec Precision Technology Corporation, a high-precision manufacturer, will establish its first North American production and warehouse facility in Vance County. The company plans to invest $8 million and create 34 new jobs in the city of Henderson.

“Syntec has made a great decision to make its North American home in our state,” said Governor Josh Stein. “Global manufacturers like Syntec need strong communities with a steady pipeline of talent and infrastructure to support their long-term growth strategies, and we’re proud that Vance County fits the bill.”

Syntec specializes in engineering and producing precision machining parts for industries such as hydraulic, life sciences, and transportation. Their expansion into the United States will focus on developing, producing, and distributing high-quality parts for medical devices, diagnostic equipment, orthopedic products, and new equipment.

Lei Wang and Bin Wang, owners of Syntec Precision Technology Corporation, expressed their enthusiasm about the move: “On behalf of my family and our team, I am thrilled to announce our plans to establish a manufacturing facility in North Carolina. We are deeply grateful to the State of North Carolina, Vance County... Your partnership has been instrumental in making our vision a reality.”

N.C. Commerce Secretary Lee Lilley highlighted the state's workforce capabilities: “North Carolina has the largest manufacturing workforce in the southeastern United States. Our ‘First in Talent’ workforce development system continues to provide a highly trained, dedicated workforce for dynamic manufacturers like Syntec.”

The positions at this new facility will offer average annual wages of $46,985 compared to Vance County's average wage of $45,193. This could result in an annual payroll impact exceeding $1.5 million.

A performance-based grant from the One North Carolina Fund amounting to $100,000 will aid Syntec's relocation efforts. These grants require matching participation from local governments and are contingent upon job creation and capital investment targets being met.

N.C. Senator Lisa S. Barnes welcomed the company's arrival: “We welcome these new jobs to Vance County... Syntec is a fantastic addition to our existing supply chain.”

The project involves collaboration between several partners including the North Carolina Department of Commerce, Economic Development Partnership of North Carolina, Vance-Granville Community College among others.