Steel Startup Eyes NC Factory as Nucor Expands

Raleigh, N.C. – North Carolina could soon host a multi-billion-dollar steel industry expansion as two companies — one a global leader and the other a rising startup — weigh big moves in the state.

U.S. Forged Rings (USFR), a steel startup focused on producing steel piping and industrial components, has short-listed locations in North Carolina for a factory that could bring hundreds of high-paying jobs and further cement the state’s role in advanced manufacturing.

Meanwhile, Charlotte-based Nucor, the largest U.S. steel producer, has been acquiring hundreds of acres in Hertford County, signaling its own plans for growth near its existing plant in Cofield.

USFR’s East Coast Expansion

USFR announced early last year it would invest $700 million in new East Coast production facilities, including fabrication and forging plants to serve a wide range of industries: wind and nuclear energy, construction, shipping, mining, defense, aerospace, and oil-and-gas applications.

Those plans have since expanded, according to USFR President Giacomo Sozzi, who confirmed the company is actively considering North Carolina.

“There's also sites that are available that are actually more advanced and developed in other states,” Sozzi said. “But we like all the various factors put together that North Carolina provides.”

Industry insiders told WRAL that a Hertford County site is under consideration for an investment close to $1 billion, potentially creating at least 800 jobs.

Why Hertford Makes Sense

The Hertford County location offers USFR multiple advantages:

• Access to waterways through the Chowan River and Albemarle Sound, enabling movement of large components.
• Direct rail connections via the North Carolina & Virginia Railroad.
• Proximity to Nucor’s Cofield plant, providing natural supply chain synergies.

The company is also factoring in skilled labor availability and real estate costs, both of which have drawn manufacturing firms to eastern North Carolina in recent years.

Nucor’s Growth and Supply Chain Role

USFR’s partnership with Nucor could prove pivotal. Nucor, which already operates near Cofield, is expanding its presence by purchasing additional acreage in the region. While Nucor has not disclosed specific plans, executives revealed in a recent earnings call that the company is investing $3 billion nationally in 2025 to meet domestic steel demand.

Being close to Nucor would also support USFR’s strategy of producing entirely in the U.S., a move designed to protect customers from global supply chain risks. “The U.S. needs a more reliable supply of fabricated steel products,” Sozzi emphasized, pointing to rising demand from data centers, energy projects, and new technology infrastructure.

Project Timeline

If North Carolina secures the project, USFR has mapped out an ambitious rollout:

• Piping facility operational by 2027
• Large fabrication facility by late 2028
• Forging and ring-rolling facility by 2029

Sozzi said it remains undecided whether to consolidate all operations in one hub or spread facilities across multiple states.

Incentives Under Consideration

Asked about state incentives, Sozzi declined to comment. The North Carolina Department of Commerce also avoided confirming negotiations.

“We talk to many companies in the course of their site searches across the country,” Commerce spokesman David Rhoades said. “But until the company makes a public declaration of their choice, we don't discuss those conversations.”

Outlook for North Carolina

If finalized, the project could reshape Hertford County’s economy and further position North Carolina as a steel and heavy manufacturing hub on the East Coast. With Nucor’s land strategy and USFR’s expansion timeline converging, the next few years could mark a turning point in the state’s industrial growth story.

Originally reported by Jack Hagel in WRAL News.