PITTSBORO — The electric vehicle plant planned for the Triangle Innovation Point industrial site near Moncure is expected to boost property tax revenue for Chatham County each year by about 25%, according to economic impact projections.

VinFast’s manufacturing plant is expected to generate $529 million in property tax revenue over 20 years, Chatham County Economic Development Corporation President Michael Smith said during a briefing for Accelerate 2026 investors at Chatham Mills last Tuesday in Pittsboro.

That comes out to about $26 million a year. For 2022, Chatham County appropriated about $101 million in total property tax revenue.

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