Twin Vee PowerCats Co. said its Forza X1 subsidiary will develop an electric-boat manufacturing plant in Nort Carolina’s McDowell County.
Forza X1 will receive an incentive package from the North Carolina Department of Commerce, Twin Vee said in a statement. The incentive package is to be finalized in the next 30 days and will include a community economic development grant.
Forza X1 plans to invest $10.5 million in the facility and equipment by the end of 2025. The company anticipates creating 170 jobs at an agreed-to minimum average salary of $51,047, the statement said.
The state grant is potentially $1.37 million. The company will partner with the North Carolina community college system for a job-training program. McDowell County offered infrastructure support.