Siemens Energy has announced $421M expansion plans across its North Carolina operations in both Charlotte and Raleigh, the Charlotte Business Journal reported.

A significant portion of the expansion will be investment at the company’s existing gas turbine manufacturing and service facility in Charlotte, which sits at more than 1M SF at 101 Siemens Ave. off Westinghouse Boulevard.

In Raleigh, Siemens Energy is also reportedly expanding grid technology project execution.

This move is meant to increase investments at sites that manufacture critical pieces of energy infrastructure equipment, The Charlotte Observer reports.

The investment will create 500 jobs in North Carolina across multiple locations that manufacture energy infrastructure equipment, the company estimates.

Siemens’ expansion in the state is part of a finalized plan to invest $1B in manufacturing in the U.S. The company listed plans for new and expanded manufacturing in Mississippi, Alabama, New York, Texas and Florida.

The investment was first announced during the company’s Capital Markets Day event in November 2025. During the presentation, company officials highlighted how their backlog for new fossil fuel and power grid energy infrastructure projects had grown since 2022.

Power demand in the U.S. is expected to rise by an average of 1.7% in 2026, and has been rising recently after years of flat demand growth, The U.S. Energy Information Administration estimates. This demand has been driven by data center power consumption.

Gas turbine manufacturing began in Charlotte in 2011, but Siemens halted production in 2018 due to low demand a few years back and altered the space to service gas turbines already installed across the U.S. instead. The Munich-based company will now restart production.

Siemens reportedly expects its first turbines made in Charlotte to start shipping in the next two to three years. This planned expansion comes two years after the announcement of an earlier additional round of $150M in investment in Charlotte by the company.

North Carolina has become a hub for industrial projects. According to Colliers, Charlotte alone added 5.6M SF of new industrial supply and had more than 6M SF of positive absorption last year. In Q4 2025, the city saw 2.23M SF absorbed and 1.8M SF delivered.

Raleigh-Durham’s industrial market, meanwhile, ended 2025 with steady momentum, with Colliers reporting nearly 777K SF of net absorption in Q4, totaling 2.66M SF of positive absorption for the year.

The market reportedly entered this year with 6.7M SF of industrial and flex product under construction, marking “one of the most active development pipelines of the past decade,” Colliers reported.