North Carolina just landed a whopper of a steel deal. Gov. Josh Stein announced Thursday that U.S. Forged Rings will build a specialty-steel production hub in Hertford County, with the company planning a three-phase project and up to $875 million in investment. The state said the first two phases are expected to create roughly 625 full-time jobs, a major economic boost for northeastern North Carolina.
US Forged Rings will invest up to $875 million to create 625 new jobs in Hertford County. These jobs will drive economic growth in northeast NC and serve as a testament to our top-notch workforce. Welcome to Team North Carolina! https://x.com/i/status/2027146604394742196
— Governor Josh Stein (@nc_governor) February 26, 2026
State release and company remarks
In a press release from the Office of the Governor, officials described U.S. Forged Rings as an integrated manufacturer of specialty steel products and confirmed the three-phase plan and job figures. Gov. Stein called the investment "a ringing endorsement of our state's top-notch workforce," and USFR President Giacomo Sozzi said the project "will bring good paying jobs back to America," according to the release.
Timeline and Project Green Lantern
As reported by WRAL, a draft economic development agreement labels the plan "Project Green Lantern" and sets completion targets for the first phase by the end of 2028, the second by the end of 2029 and the third by 2030. WRAL also reported the full project could ultimately reach about 725 jobs and that the draft lists an average annual wage near $85,000 for the new positions.
Why Hertford County
USFR has said it was evaluating East Coast sites with access to waterways, rail and heavy utilities, qualities Hertford County can offer, and it lists a supply-chain partnership with Nucor on U.S. Forged Rings. The firm previously announced plans for East Coast fabrication and forging facilities to serve offshore wind, nuclear and other heavy industries, signaling a broader strategy of near-shore manufacturing.
Local infrastructure and state support
Local officials and lawmakers have been preparing for a project like this: the General Assembly previously approved funding for a public dock and an industrial road to handle oversized shipments, and supporters say those investments helped make Hertford County more attractive to heavy manufacturers, Coastal Review reported. Sen. Bobby Hanig called the potential arrival of USFR "transformational" for the region, and county leaders say the dock is meant to serve multiple businesses, not just a single tenant.
What's next
County commissioners are expected to consider an economic-development agreement that outlines the phased investment, and state agencies named in the governor's release will coordinate on workforce training, permitting and infrastructure as the project moves from planning to construction, according to WRAL and the Office of the Governor. If the draft timeline holds, major production facilities could come online across the 2028–2030 window, with hiring ramping up as phases complete.
