Germany-Based DEHN Plans Mooresville, North Carolina, U.S. Headquarters
The company's new U.S. headquarters will include production, research, and training capabilities.
“We are very proud to take this strategically important step for our company,” said Philipp Dehn, the CEO of the DEHN group. “Being 114 years in business, we now start to leverage our full potential on the U.S. market. I want to thank all representatives of the North Carolina Department of Commerce for the always trustworthy and highly professional cooperation since the start of this special project. We are extremely excited regarding the further development of DEHN Inc. within the United States, bringing our outstanding knowledge and experience regarding lightning and surge protection to our customers.”
The project will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $523 million. Using a formula that takes into account the new tax revenues generated by the new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,170,000, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.
The project's projected return on investment of public dollars is 169 percent, meaning for every dollar of potential cost, the state receives $2.69 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
"North Carolina’s global reputation as the best state for business continues to attract exceptional international companies like DEHN to places like Iredell County,” noted Governor Cooper. “The industries of the future know they will find talented workers and the worker training and support systems necessary for success when they select North Carolina as their next business location.”
Because DEHN chose a site in Iredell County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving $390,000 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Iredell, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state.
“North Carolina’s diverse and skilled talent continues to beat out the competition on the global stage,” noted North Carolina Commerce Secretary Machelle Baker Sanders. “We do not take for granted the importance of a strong, well-trained workforce – and expanding and strengthening our workforce to meet in-demand jobs, for today and in the future, remains our top priority.”
DEHN, Inc. is the U.S. subsidiary of DEHN SE, an electrical engineering company based in Neumarkt, Germany. DEHN addresses major trends in its industry, from e-mobility and renewables to the protection of critical infrastructure. The company offers solutions and services for lightning and surge protection as well as safety equipment.
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina (EDPNC) on this project were the North Carolina General Assembly, the North Carolina Community College System, N.C. Commerce’s Division of Workforce Solutions, the University of North Carolina at Charlotte, Mitchell Community College, the Centralina Workforce Development Board, South Iredell Community Development Corporation, Iredell County, the Town of Mooresville, the Charlotte Regional Business Alliance, and the Iredell County Economic Development Corporation.
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