Peak Demand Inc. will invest nearly $2.6 million to develop its new headquarters and manufacturing center in Wilson County, North Carolina. The company intends to create 37 jobs over the coming three years.
A global supplier of electrical transmission and distribution products, including insulators, bushings, components and current transformers, Peak Demand is a unit of China’s Nanjing Zhida Electric Co. Peak Demand will serve Nanjing Zhida Electric’s customers in North America, Central America and South America. Wilson will serve as its base of operations in the Americas.
“We are excited to make Wilson our home,” said Jon Rennie, President/CEO of Peak Demand, “We are a team of industry veterans with a mission to revolutionize customer service in the electric utility products market. Our on-line tools and quick-ship processes are helping customers respond quicker to the critical demands of the electrical grid. In Wilson and in North Carolina, we have found a community that understands the importance of business growth and the unique needs of manufacturers. We look forward to a long, successful history here.”
The project was made possible in part by a performance-based grant of up to $100,000 from the One North Carolina Fund. The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. One NC grants also require and are contingent on financial matches from local governments.
“North Carolina's business climate, talent and quality of life continue to attract companies from around the world,” said Governor Pat McCrory. “Peak Demand builds on an exceptional pool of engineering talent in the power equipment industry and ready access to U.S. and international markets.”