Electric-Powered Boat and Motor Manufacturer to Make $10.5M Investment in McDowell County

July 29, 2022

Forza X1, an electric-powered boat and motor manufacturer, will build a new manufacturing facility in Marion, located in McDowell County, investing $10.5 million into the project and creating 170 jobs. The average annual wage for employees will be $51,047, which is higher than $39,071, the average wage for McDowell County. The county will see an additional $8 million annually from new payroll.

“North Carolina is the ideal environment for a company like Forza X1 to thrive,” says Melissa Smith, vice president for business recruitment and development at the Economic Development Partnership of North Carolina. “With North Carolina’s commitment to clean energy, world-class workforce and recent announcements like Toyota and VinFast, the state is establishing itself in the electric vehicle and battery arena. We are sure to see more companies like Forza X1 coming to our state. Clean energy is the future of a healthy economy.”

At the end of 2021, Toyota announced it chose the Greensboro-Randolph Megasite for its new $1.29 billion electric vehicle (EV) battery manufacturing plant. Vietnamese EV and battery company VinFast announced it is building its first ever North American automotive assembly and battery manufacturing plant in Chatham County. The $4 billion investment is the biggest economic development announcement in North Carolina history. Combined, Toyota and VinFast will create over 9,000 jobs.

Forza X1, a division of Fort Pierce, Florida based marine manufacturer Twin Vee PowerCats Co., has the goal to make marine boating more environmentally friendly. With its new manufacturing facility in McDowell County, Forza X1 will be producing recreational boats that have a proprietary outboard motor, lithium battery packs, and a company-developed control system, at an affordable price.

The Economic Development Partnership of North Carolina would like to recognize the N.C. Department of Commerce as well as other key partners involved in this project, including the North Carolina General Assembly, the North Carolina Community College System, the GoldenLEAF Foundation, the Appalachian Regional Commission, Duke Energy, Dominion Energy, McDowell County, the City of Marion and the McDowell Economic Development Association.