Forge Nano recently announced plans to establish a lithium-ion battery manufacturing facility in Morrisville, North Carolina, marking a significant investment of over $165 million. The plant, set to begin operations in 2026, will produce advanced lithium-ion cells using Forge Nano’s proprietary Atomic Armor technology. This development positions North Carolina as a major player in the clean energy sector, supporting the state’s growing leadership in battery production and innovation. The facility is expected to create around 200 high-paying jobs, contributing more than $16 million annually to the local payroll.
The economic impact of this project extends well beyond the facility itself. Over the next 12 years, the project is estimated to boost North Carolina’s economy by $655 million. As part of the state’s Job Development Investment Grant (JDIG), the plant will contribute significant tax revenue to the state, which will help fund infrastructure upgrades in rural areas. This influx of jobs and capital investment will drive demand for housing, retail, and other services in Morrisville and surrounding areas, including the rapidly growing cities of Raleigh and Cary.
Wake County, where the facility will be located, is classified as a Tier 3 area, meaning that while it is economically strong, other regions in the state will benefit from Forge Nano’s decision to build there. Approximately $500,000 from the JDIG grant will be funneled into the state’s Industrial Development Fund to support infrastructure projects in less economically developed counties. This approach ensures that the economic benefits of this major project are spread across North Carolina.
The influx of new residents and workers due to the Forge Nano facility will likely increase demand for housing and retail in nearby cities like Durham and Chapel Hill. These areas, already experiencing growth, will see added pressure on their housing markets and commercial real estate sectors. Local governments will need to address this demand through expanded development and infrastructure planning, particularly in transportation and public services.
Overall, Forge Nano’s investment in Morrisville represents a strategic win for North Carolina’s clean energy future. The state continues to attract cutting-edge industries, and the ripple effects of this project will reshape the economic landscape of the Research Triangle region, fostering both industrial growth and local community development.
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Doug has held income properties in North Carolina for more than 20 years. He holds a North Carolina broker’s license, and is a member of the National Association of Realtors and the Triangle Real Estate Investors Association. A lifelong learner, he holds an MBA and a PhD in business, and continues his education by attending meetings of the Society of Exchange Counselors and the National Counsel of Exchangors. In addition to his extensive real estate activities, Doug enjoyed a successful career in academia, achieving the rank of Full Professor in the Cameron School of Business at UNC Wilmington. He was honored with research and teaching awards, served as Director of the MS Computer Science and Information Systems program, and was awarded the endowed position Distinguished Professor of Information Systems.
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