Governor Josh Stein of North Carolina announced on August 12, 2026 that Prysmian, one of the world's largest manufacturers of cables and optical fibers, will invest more than $1 billion to expand its fiber and glass manufacturing operations in Claremont, Catawba County, and will add 385 new jobs.
The expansion includes the vertical integration of a new glass production facility and upgrades to existing buildings that will double the site's fiber optic manufacturing capacity. Prysmian will also expand the current footprint of the Claremont site by 975,000 square feet.
"This billion-dollar investment is more proof that North Carolina is leading the way on innovation and job creation," Stein said in the [press release published by the North Carolina Department of Commerce](https://www.commerce.nc.gov/news/press-releases/2026/08/12/governor-stein-announces-1-billion-expansion-prysmians-claremont-facility-adding-385-new-jobs). "Companies understand the value of our highly skilled manufacturing workforce that helps to power their strategic growth."
Andrea Pirondini, CEO of Prysmian North America, said the investment "demonstrates our commitment to supporting the growth of the U.S. demand for advanced digital solutions," and described Prysmian as "one of just three U.S. manufacturers of fiber and optical cables."
According to the announcement, the average annual salary for the new positions will be $60,870, above the Catawba County average of $56,937, with a potential payroll impact of more than $23.4 million per year for the region. Prysmian will receive a performance-based grant of $1 million from the One North Carolina Fund: the company must invest $665 million and meet job creation and capital investment targets to qualify for payment, and it receives no money upfront.
Founded in 1879, Prysmian operates more than 100 plants across six continents, including more than 50 locations and around 9,000 associates in North America, according to the announcement.
On the same day, Prysmian shares closed up 3.02% on Borsa Italiana in Milan, while the FTSE MIB index was essentially flat at 53,698.66 points (-0.01%), according to [SoldiOnline.it](https://www.soldionline.it/notizie/azioni-italia/borsa-milano-piatta-ma-prysmian-vola-diasorin-e-cucinelli-giu).
Sources
- North Carolina Department of Commerce, "Governor Stein Announces $1 Billion Expansion for Prysmian's Claremont Facility, Adding 385 New Jobs" (August 12, 2026): https://www.commerce.nc.gov/news/press-releases/2026/08/12/governor-stein-announces-1-billion-expansion-prysmians-claremont-facility-adding-385-new-jobs
- SoldiOnline.it, "Borsa Milano piatta, ma Prysmian vola: Diasorin e Cucinelli giù" (August 12, 2026): https://www.soldionline.it/notizie/azioni-italia/borsa-milano-piatta-ma-prysmian-vola-diasorin-e-cucinelli-giu
