Jan. 24. Dehn Inc., a family-owned electrical engineering company based in Neumarkt, Germany, will invest $38.6 million in a new headquarters in Mooresville.

Dehn, which holds more than 1,100 patents, will create nearly 200 jobs between 2025 and 2029.

The 114-year-old company will receive $1.17 million in state tax incentives over the next 12 years.

Dehn coming to Lake Norman

The new US headquarters will include production facilities and an R&D unit that will develop new products as well as explore research collaborations with universities.

Quotable

“We are extremely excited regarding the further development of DEHN within the United States, bringing our outstanding knowledge and experience regarding lightning and surge protection to our customers,” said Philipp Dehn, CEO.

The NC Department of Commerce led the recruiting effort.

Details

Although wages will vary depending on the position, the average salary for the new positions will be $66,120, which is higher than the current average wage in Iredell County of $63,674.

Both Mooresville and Iredell will provide $900,000 in tax incentives.

DEHN’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $523 million. Using a formula that takes into account the new tax revenues generated by the new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $1,170,000, spread over 12 years.