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.
The investment is designed to meet increasing demands from data centers, the broader U.S. industrial sector, and critical upgrades to the national power grid.
A Boost for McKinney’s Economy
McKinney’s new mayor Bill Cox joined Prysmian leaders and local stakeholders at the groundbreaking. “I’m honored that my first groundbreaking as mayor is for a project as big and as important as what we see here today from Prysmian,” said Mayor Bill Cox. “We thank Andrea and the Prysmian team for their investment in McKinney and look forward to further growth in the years to come.”
Michelle Bishop, district director for U.S. Representative Keith Self, presented a Congressional certificate to commemorate the occasion, and Governor Greg Abbott issued a proclamation recognizing the significance of the investment.
Michael Kowski, President and CEO of the McKinney Economic Development Corporation, called the expansion a powerful statement of confidence in the city. “Building on Encore Wire’s successes, Prysmian’s investment in McKinney will be significant to this community in so many different ways,” said Kowski. “We’re proud to help bring new opportunities to our citizens and continue to showcase McKinney as fertile ground for business growth and expansion.”
From Local Start to Global Scale
Encore Wire began in 1989 with a single 68,000-square-foot building in McKinney. Over 35 years, it has grown to more than 3.5 million square feet on 460 acres. The Encore campus is now the heart of Prysmian’s North American operations and a symbol of the company’s shift from cable manufacturing to full-service energy solutions.
Looking Ahead
Guests at the ceremony signed a commemorative beam that will be installed in the new facility, marking the beginning of Prysmian’s next chapter in McKinney.
The plant is only the first phase of planned development on the campus, reinforcing McKinney’s growing industrial footprint and its role in strengthening the country’s energy infrastructure.
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