Electrical cable manufacturer Encore Wire received a $500 million investment over five years from its parent company, Prysmian.

A significant part of this investment will fund a a 650,000-square-foot medium voltage cable facility in McKinney, TX, set to open in 2027. The Prysmian Board approved $249 million of this investment during its Capital Market Day in March.

Prysmian said the expansion is a step in the integration of Encore Wire’s operations and service model into Prysmian’s North American growth strategy. It supports Prysmian’s shift from cable manufacturing to offering broader energy solutions for data centers, U.S. industry and grid modernization.

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Established in 1989, Encore Wire began with a single 68,000-square-foot warehouse. The company now operates over 3.5 million square feet across 460 acres in McKinney. Prysmian added that the new investment reinforces the company’s long-term commitment to the region and strengthens its portfolio of U.S.-manufactured products.

“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 American CEO Andrea Pirondini said in a June 19 news release.