RALEIGH, N.C. – Atom Power, a company that builds circuits for electric vehicle charging stations, is expanding its presence in North Carolina with hundreds of high-paying jobs.

The Economic Investment Committee of the NC Department of Commerce approved grants of about $1.6 million to help Atom add 205 jobs at its headquarters in Huntersville by 2026.

Electric cars are parked at a charging station. (AP Photo/Rich Pedroncelli)

Atom, which was founded in Charlotte, claims to have invented a solid-state digital circuit to help deliver energy in charging structures that serve both commercial fleets and multi-family residential markets.

North Carolina is expected to play a significant role in the electric vehicle segment, first because of the announcement of the Toyota EV battery manufacturing facility at the Greensboro-Randolph Megasite, then plans by Vietnamese auto manufacturer Vinfast to build electric SUVs in Chatham County and the $5 billion investment by Wolfspeed to manufacture microchips at a facility in Chatham County.

And under the federal Bipartisan Infrastructure Law, North Carolina was scheduled to receive $16 million in 2022 and another $109 million from the $5 billion that is being invested nationally in the next five years to establish charging stations along interstate highways. 

Atom has 80 employees in Huntersville and eight in Durham County and plans to invest $4.8 million – a release by the governor’s office reported $4.1 million – by the end of 2027, and the new jobs will pay an average annual salary of $91,804, which is about 12% above Mecklenburg County’s median of $80,341. Some of those positions will work remotely.

The hiring and incentive information announced by the company could be higher, because the EIC only reviews figures related to requested grants.

Atom chose Huntersville over Commerce, Georgia, largely based on the availability of workforce and housing and other favorable economic conditions, such as tax rates.

“North Carolina leads the nation in the transition to the clean energy economy,” Gov. Roy Cooper said in a release about the project. “Electric Vehicles are key to this transition and I’m pleased Atom Power is expanding in Huntersville to make critical parts for EV charging stations which will be located throughout North Carolina.”

Said Atom CEO and cofounder Ryan Kennedy: “Since Atom Power’s founding in 2014, we’ve been committed to growing our footprint within North Carolina. Our continued expansion in Huntersville will enable us to further tap into the rich and diverse local talent pool, while also supporting the growing demand for our unique approach to EV charging infrastructure.”

The EIC’s Walden Study of economic impact projects that by the end of the grant period in 2036, Atom should add $818 million to the state’s gross domestic product and contribute $21.1 million in tax revenue.