In a major milestone for McKinney’s industrial sector, Prysmian Group held a groundbreaking ceremony this week to kick off a $500 million, multi-year investment at the Encore Wire campus.
The project includes a $249 million allocation approved by Prysmian’s Board of Directors in March and marks the company’s most significant step forward since acquiring Encore Wire last year.
What This Means
The centerpiece of the investment is a 650,000-square-foot, state-of-the-art medium voltage cable production facility, slated to come online in 2027. The new plant will significantly boost Prysmian’s medium voltage capacity and add 120 new jobs to the area.
“This new plant will be one of the largest standalone facilities on our campus, which is the largest vertically integrated cable factory on the planet and is a major milestone in the Prysmian/Encore Wire growth,” Prysmian North America CEO Andrea Pirondini said in an official statement…