Asian street-food brand Wow Bao has announced plans to establish its first US company-operated manufacturing facility in Forest City, North Carolina.
North Carolina Governor Josh Stein revealed that Wow Bao will invest $6.5 million in Rutherford County, generating 88 new jobs for the local economy.
Additionally, to facilitate the company’s expansion into North Carolina, a “performance-based grant of $180,000” has been secured from the One North Carolina Fund, according to a statement released by the governor’s office.
Wow Bao CFO Matt Fallon expressed enthusiasm about this new venture, stating, “With a world-class workforce and vibrant food and beverage industry, it became clear that Forest City and the State of North Carolina were the perfect home for this exciting phase of Wow Bao’s expansion.”
He further noted that the company looks forward to “begin cooking up America’s number one bao in Forest City and shipping it out to the rest of the country.”
Founded in 2003 in Chicago, Wow Bao started as a single kiosk in Water Tower Place and has significantly expanded its reach since then.
In 2017, the company came under the ownership of private-equity firm Valor Equity Partners, further fueling its growth.
Today, Wow Bao boasts an Asian-inspired menu that includes bao (steamed buns), potstickers, and soup dumplings, appealing to a wide audience.
Moreover, Wow Bao has successfully expanded beyond storefronts, operating approximately 700 virtual restaurants across the United States and being available in over 6,000 grocery stores, airports, universities, hotels, e-commerce platforms, and hot-food vending machines.
Recently, in October, Wow Bao announced a significant milestone, securing listings at 1,200 Target stores across the US.
