North Carolina is experiencing significant changes in its business and manufacturing sectors, with several companies announcing major investments, new job opportunities and workforce reductions across the state.
Recent announcements highlight two contrasting trends in the state’s economy. While companies such as US Conec, Bracco and The Clearing House are expanding their operations and planning to create hundreds of jobs, other employers, including Foster, Pella Corporation and MasterBrand Cabinets, are preparing to close facilities or reduce their workforces.
The developments affect communities across North Carolina, including Hickory, Sanford, Charlotte, Winston-Salem, Greenville, Reidsville and Kinston.
US Conec Announces $149.7 Million Expansion in Hickory
One of the biggest positive business developments involves US Conec, which announced plans to invest approximately $149.7 million in expanding its manufacturing operations in Hickory.
According to an October 22 announcement from North Carolina Governor Josh Stein, the expansion is expected to create 224 new jobs in Catawba County.
The project will add a manufacturing facility covering approximately 200,000 square feet, supporting advanced manufacturing, research and development, administrative operations and distribution.
US Conec manufactures high-density optical interconnect products used in advanced computing infrastructure, telecommunications and enterprise networks.
The company plans to expand its manufacturing capabilities to meet growing demand driven by advanced computing infrastructure.
Bracco Plans $230 Million Manufacturing Investment in Sanford
Another major investment is coming to Sanford, where Italian diagnostic imaging company Bracco plans to invest $230 million in its first U.S. manufacturing facility.
The October 27 announcement from North Carolina Governor’s Office states that the project is expected to create 200 jobs in Lee County.
The facility will manufacture contrast media products used in diagnostic imaging procedures.
The investment is expected to strengthen North Carolina’s manufacturing and life sciences industries while creating additional employment opportunities in the Sanford area.
Bracco also published an official company announcement detailing its investment and manufacturing plans.
The Clearing House to Add 200 Jobs in Charlotte
Charlotte is also expected to benefit from a major business expansion.
The Clearing House Payments Company announced plans to invest $11.5 million to expand its operations in Mecklenburg County.
According to the North Carolina Governor’s Office announcement, the project is expected to create 200 new jobs.
The expansion will establish a modern office presence in Charlotte, strengthening the city’s position as an important financial services and business center.
The new positions are expected to be created between 2028 and 2032.
Foster to Close North Carolina Facilities, Affecting 181 Workers
While several companies are expanding, Foster is preparing to close its North Carolina operations, affecting 181 workers.
The food distribution company announced plans to close its facilities in the state following the loss of major customer contracts.
According to Business North Carolina’s October 26 report, 169 job losses are associated with the company’s Winston-Salem operations, while another 12 positions are in Greenville.
The company reported that its principal customer, which accounted for approximately 70% of its business, terminated its contract.
Foster also reported losing another customer representing approximately 10% of its business.
The closures mark a significant development for employees and the local communities that depend on the company’s distribution operations.
Readers can also review the North Carolina Department of Commerce 2026 WARN report for official workforce notices.
Pella Corporation to Close Reidsville Plant, Affecting 133 Employees
Pella Corporation has announced plans to close its manufacturing facility in Reidsville, resulting in 133 employees losing their jobs.
According to WUNC News, the company plans to begin releasing employees as early as December 3, 2026, with the final layoffs expected by the end of January 2027.
Pella said its decision followed a review of manufacturing capacity and expected market demand.
The company determined that it had more manufacturing capacity than necessary and expected stronger growth in other parts of the country.
The closure is a significant development for Rockingham County, particularly because the facility opened in 2019 following local and state economic incentives.
MasterBrand Cabinets Announces 391 Job Cuts in Kinston
Another major workforce reduction involves MasterBrand Cabinets in Kinston.
A Worker Adjustment and Retraining Notification (WARN) filing reported that 391 employees would be affected by layoffs at the company’s Lenoir County facility.
According to WITN’s September 30 report, the workforce reduction is connected to the shutdown of the company’s Value Semi-Custom cabinet operations.
Other operations at the facility are expected to continue, while positions directly connected to the affected business sector will be eliminated.
The first round of layoffs is expected to begin at the end of November 2026.
The announcement represents a major challenge for workers and the local economy in Kinston.
What These Developments Mean for North Carolina’s Economy
The latest business announcements demonstrate the changing nature of North Carolina’s economy.
On one side, investments in technology, financial services and diagnostic manufacturing are expected to bring new employment opportunities to communities such as Hickory, Sanford and Charlotte.
On the other side, manufacturing and distribution changes are creating uncertainty for workers in Winston-Salem, Greenville, Reidsville and Kinston.
The announcements from US Conec, Bracco and The Clearing House represent 624 planned new jobs combined. Meanwhile, the Foster, Pella and MasterBrand announcements identify 705 affected positions across their respective operations.
These figures represent separate company announcements and do not indicate an overall statewide employment change. The projects also have different implementation timelines.
For local communities, the coming months will be important as companies move forward with expansion plans and affected employees prepare for upcoming workforce changes.
Final Thoughts
North Carolina continues to attract major business investments while facing challenges in parts of its manufacturing and distribution industries.
The planned expansions in Hickory, Sanford and Charlotte offer opportunities for future employment, while the announced closures and layoffs highlight the economic pressures facing workers in several other communities.
Businesses, employees and local economic development officials will be watching closely as these changes unfold through the end of 2026 and into 2027.
