Threats of Tariffs and Repealing Tax Credits Lead to Loss of Clean Energy Jobs in NC
The erratic threat of tariffs and the looming menace of legislation eliminating clean energy tax credits appear to already be producing clean energy job losses in North Carolina.
Wolfspeed, a Durham-based manufacturer of silicon carbide materials used in applications including electric vehicles and renewable energy, last week announced that it was laying off a third of its current workforce at its new $5 billion plant under construction in Siler City. Wolfspeed’s statement said that the job cuts are intended “to align staffing with near-term customer demand.” The new Wolfspeed plant is one of two anchor tenants for the two Chatham County industrial megasites. The other is Vietnam-based electric vehicle manufacturer VinFast.
Political Moves Have Real Economic Costs
While the announced job cuts by Wolfspeed at its Siler City facility are initially modest (at least 50-75 jobs), they represent a worrying sign of advanced manufacturing cutbacks from the ongoing assaults against clean energy in Congress and the Trump Administration. Wolfspeed has been wrestling with the stock performance impacts of heavy debt from its multi-billion-dollar investments in new plants in New York and North Carolina, combined with the stalled growth of the electric vehicle market. It has planned a request to the Commerce Department for funding from the CHIPS Act, if that funding remains available.
This is the latest clear example of the Trump-led war against clean energy threatening the North Carolina economy. Members of the NC delegation in Congress, including Sen. Thom Tillis, need to be reminded of that threat at every opportunity.
