A prominent Asian street-food brand, Wow Bao, is set to inaugurate its first U.S. company-operated manufacturing facility in Forest City, North Carolina. This significant development will involve a $6.5 million investment in Rutherford County and the creation of 88 new jobs. To assist this expansion, the state has granted a performance-based award of $180,000 from the One North Carolina Fund. The CFO of Wow Bao praised the local workforce and food industry, expressing excitement about producing top-tier bao products in Forest City for nationwide distribution.
Details of Wow Bao's Expansion into North Carolina
In the heart of autumn, Wow Bao embarked on an ambitious journey by announcing plans to establish its inaugural U.S.-based manufacturing center in Forest City, North Carolina. Established in 2003 in Chicago, the company initially began as a modest kiosk at Water Tower Place before growing under the ownership of private-equity firm Valor Equity Partners since 2017. Now offering a diverse menu inspired by Asian cuisine, including steamed buns, potstickers, and soup dumplings, Wow Bao has expanded its reach far beyond physical locations. It currently serves approximately 700 virtual restaurants across the U.S., in addition to over 6,000 grocery stores, airports, universities, hotels, e-commerce platforms, and hot-food vending machines. Recently, Wow Bao secured listings in 1,200 Target stores nationwide.
This latest venture marks a crucial milestone for Wow Bao. With an investment of $6.5 million, the company aims to create 88 employment opportunities in Rutherford County. Furthermore, the One North Carolina Fund has provided a grant of $180,000 to support this initiative. Matt Fallon, Wow Bao’s CFO, highlighted the exceptional capabilities of the local workforce and vibrant food and beverage sector, affirming that Forest City and North Carolina were ideal choices for this phase of their growth. Fallon expressed enthusiasm about beginning production of high-quality bao in Forest City for shipment across the country.
From a journalist's perspective, Wow Bao's decision to invest in North Carolina reflects not only the brand's commitment to quality but also its strategic approach to leveraging regional strengths. By choosing Forest City, Wow Bao underscores the importance of supporting local economies while enhancing its national presence. This move sets a commendable example for other companies seeking sustainable growth models that balance profitability with community engagement. As Wow Bao continues to expand its operations, it reinforces the potential for innovation within the food industry, proving that adaptability and vision can lead to remarkable success.