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Eaton, an intelligent power management company, has been awarded $26.6 million in federal tax credits to support U.S. manufacturing and workforce training programs, accelerating the energy transition. The investment tax credits were granted for manufacturing investments exceeding $200 million in Texas and Wisconsin, creating over 800 new jobs. Eaton's focus on clean energy projects and workforce education aims to strengthen the U.S. clean energy economy and build a sustainable future.
Eaton, un'azienda leader nella gestione intelligente dell'energia, ha ricevuto crediti fiscali federali per un valore di 26,6 milioni di dollari per supportare la produzione negli Stati Uniti e i programmi di formazione della forza lavoro, accelerando la transizione energetica. I crediti fiscali per gli investimenti sono stati concessi per investimenti nella produzione superiori ai 200 milioni di dollari in Texas e Wisconsin, creando oltre 800 nuovi posti di lavoro. L'attenzione di Eaton sui progetti di energia pulita e l'educazione della forza lavoro mira a rafforzare l'economia dell'energia pulita negli Stati Uniti e a costruire un futuro sostenibile.
Eaton, una compañía líder en la gestión inteligente de la energía, ha sido galardonada con 26,6 millones de dólares en créditos fiscales federales para apoyar la fabricación en los EE.UU. y los programas de capacitación laboral, acelerando la transición energética. Los créditos fiscales de inversión se concedieron por inversiones en fabricación que superaron los 200 millones de dólares en Texas y Wisconsin, creando más de 800 nuevos empleos. El enfoque de Eaton en proyectos de energía limpia y la educación de la fuerza laboral tiene como objetivo fortalecer la economía de la energía limpia de los EE.UU. y construir un futuro sostenible.
Eaton, 지능형 전력 관리 회사는 미국 제조 및 직업 교육 프로그램을 지원하기 위해 2천660만 달러의 연방 세액 공제를 받았으며, 이는 에너지 전환을 가속화합니다. 텍사스와 위스콘신에서 2억 달러가 넘는 제조 투자에 대해 부여된 투자 세액 공제는 800개 이상의 새로운 일자리를 창출했습니다. Eaton의 청정 에너지 프로젝트와 노동력 교육에 대한 초점은 미국의 청정 에너지 경제를 강화하고 지속 가능한 미래를 구축하는 것을 목표로 합니다.
Eaton, une entreprise leader dans la gestion intelligente de l'énergie, a reçu 26,6 millions de dollars en crédits d'impôt fédéraux pour soutenir la fabrication aux États-Unis et les programmes de formation de la main-d'œuvre, accélérant la transition énergétique. Les crédits d'impôt pour l'investissement ont été accordés pour des investissements de production dépassant 200 millions de dollars au Texas et dans le Wisconsin, créant plus de 800 nouveaux emplois. L'accent mis par Eaton sur les projets d'énergie propre et l'éducation de la main-d'œuvre vise à renforcer l'économie de l'énergie propre aux États-Unis et à construire un avenir durable.
Eaton, ein führendes Unternehmen im intelligenten Energiemanagement, hat 26,6 Millionen Dollar an Bundessteuergutschriften erhalten, um die US-amerikanische Fertigung und Ausbildungsprogramme für die Belegschaft zu unterstützen und den Energiewechsel zu beschleunigen. Die Investitionssteuergutschriften wurden für Fertigungsinvestitionen über 200 Millionen Dollar in Texas und Wisconsin gewährt, wodurch über 800 neue Arbeitsplätze geschaffen wurden. Eatons Fokus auf saubere Energieprojekte und die Bildung der Belegschaft zielt darauf ab, die saubere Energieökonomie der USA zu stärken und eine nachhaltige Zukunft zu bauen.
Positive
Eaton receives $26.6 million in federal tax credits for manufacturing investments in Texas and Wisconsin.
Investment tax credits granted under the Qualifying Advanced Energy Project Tax Credit (48C) for clean energy projects and workforce training.
Eaton's investments exceeding $200 million to support clean energy projects and create over 800 new jobs in Nacogdoches, El Paso, and Waukesha.
Expansion of manufacturing facilities in Texas and Wisconsin to enhance production capacity and introduce new workforce training programs.
Strong collaborations with local colleges and universities to establish workforce training curriculums and apprenticeship programs.
Positive reception from government officials and local representatives for Eaton's commitment to advancing clean energy and creating job opportunities.
Eaton's expertise and track record position the company as a key player in supporting clean energy and infrastructure projects.
Focus on maximizing the potential of clean energy across various applications, including utility, residential, industrial, commercial building, and data center sectors.
Negative
None.
Eaton manufacturing investments in Texas and Wisconsin to create more than 800 new jobs and strengthen energy transition workforce training
PITTSBURGH--(BUSINESS WIRE)--
Intelligent power management company Eaton was awarded more than $26.6 million in investment tax credits from the U.S. Internal Revenue Service as part of the Qualifying Advanced Energy Project Tax Credit (48C) funded by the Inflation Reduction Act. The company was awarded the tax credits for its manufacturing investments totaling more than $200 million to support clean energy projects and workforce training in Nacogdoches and El Paso, Texas and Waukesha, Wisconsin.
Eaton secures tax credits for its U.S. manufacturing and workforce training investments in Texas and Wisconsin advancing the U.S. clean energy economy. (Photo: Business Wire)
“Eaton is accelerating and simplifying the energy transition for our customers across industries with steady investments in U.S. manufacturing and workforce education programs,” said Mike Yelton, president, Americas Region, Electrical Sector at Eaton. “Our technologies at the heart of electrical systems are essential to modernize the grid and maximize the potential of clean energy across utility, residential, industrial, commercial building and data center applications. The investments we’re making in Texas, Wisconsin and beyond will help build a stronger, more sustainable future.”
Eaton gets $16.3M tax credit for manufacturing investments in Nacogdoches, Texas
In October 2023, Eaton broke ground on a $100 million expansion of its Nacogdoches, Texas manufacturing facility. Here, the company is adding 200,000-square-feet to its existing manufacturing facility, doubling production capacity of Eaton voltage regulators and creating more than 200 skilled manufacturing jobs. Eaton is also working with Angelina College to establish a new workforce training curriculum and Stephen F. Austin State University to offer apprenticeship programs.
"I am excited to see Eaton receive this substantial award to support their commitment to advancing America's energy independence and economic prosperity,” said Congressman Pete Sessions. “This $16.3 million tax credit will not only bolster Eaton's efforts in modernizing vital energy infrastructure but also bring over 200 new jobs to Nacogdoches and the East Texas region. I am proud to support Eaton’s projects in the Texas 17th Congressional District and will always stand strong for a secure energy future in America.”
Eaton secures $9M tax credit to expand manufacturing in El Paso, Texas
In El Paso, Eaton is investing $80 million to significantly expand its manufacturing footprint to increase production of its circuit breakers, switchboards, panelboards and other assemblies. The company is opening a new facility, creating more than 600 new skilled manufacturing jobs and increasing capacity at its existing manufacturing plant. Eaton is also working closely with Western Technical College to prepare students for careers in the clean energy manufacturing industry.
"El Paso is an ideal place for manufacturing investments and companies that are leaders in innovation," said Congresswoman Veronica Escobar. "Between an attractive market and a dedicated workforce, I'm thrilled that the Department of Energy and IRS are investing in our community. With funds made possible by the Inflation Reduction Act and the continued commitment of companies like Eaton, our country's potential for clean energy only continues to grow."
Eaton gains $1.3M tax credit for investments in Waukesha, Wisconsin, manufacturing
At the company’s largest Wisconsin manufacturing facility in Waukesha, Eaton is investing $22 million in equipment to increase manufacturing capacity of three-phase transformers for utility, data center, large commercial and industrial applications. Eaton is working closely with Waukesha County Technical College (WCTC) on curriculum and has constructed a dedicated training center where students can gain direct experience producing critical grid modernization solutions.
“In Wisconsin, we make things. We make cheese, we make ships, we make paper, and now, we are making what is needed to power the clean energy future,” said Senator Tammy Baldwin (D-WI). “I was proud to vote for the Inflation Reduction Act and make investments like this that will create more family-supporting jobs and strengthen the pipeline of workers that will build the next chapter of Made in Wisconsin manufacturing.”
“Waukesha County Technical College is fortunate to have an incredibly collaborative industry partnership with Eaton that is only getting stronger,” said Rich Barnhouse, Ph.D., president of WCTC. “Eaton is a steadfast supporter of technical education, and by working in tandem, we are able to develop and implement programs and trainings that lead to workforce solutions in our region, therefore lessening the skills gap.”
Eaton's deep expertise and proven track record of successful installations uniquely positions the company to support clean energy and infrastructure projects. With its longtime and dedicated team focused on government projects, Eaton is providing customers with the knowledge, education and engineering support to navigate the intricacies of federal funding and tax incentive mechanisms. Learn more about Eaton’s solutions for federal clean energy, stimulus and infrastructure initiatives.
Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy sources, helping to solve the world’s most urgent power management challenges, and building a more sustainable society for people today and generations to come.
Eaton was founded in 1911 and has been listed on the New York Stock Exchange for more than a century. We reported revenues of $23.2 billion in 2023 and serve customers in more than 160 countries. For more information, visit Eaton.com. Follow us on LinkedIn.
How much federal tax credits did Eaton receive for its manufacturing investments in Texas and Wisconsin?
Eaton was awarded $26.6 million in federal tax credits to support its manufacturing investments in Texas and Wisconsin.
How many new jobs will be created as a result of Eaton's investments in Texas and Wisconsin?
Eaton's investments are expected to create more than 800 new jobs in Nacogdoches, El Paso, and Waukesha.
Which act funded the Qualifying Advanced Energy Project Tax Credit (48C) that granted Eaton the investment tax credits?
The investment tax credits granted to Eaton were funded by the Inflation Reduction Act under the Qualifying Advanced Energy Project Tax Credit (48C).
What types of clean energy projects are supported by Eaton's investments in Texas and Wisconsin?
Eaton's investments support clean energy projects in utility, residential, industrial, commercial building, and data center applications in Texas and Wisconsin.
How is Eaton contributing to workforce training in Texas and Wisconsin?
Eaton is collaborating with local colleges and universities to establish new workforce training curriculums and apprenticeship programs in Texas and Wisconsin.
What is the total amount of manufacturing investments made by Eaton in Texas and Wisconsin?
Eaton's manufacturing investments in Texas and Wisconsin total more than $200 million to support clean energy projects and workforce training.
Eaton Corporation plc is an American-Irish multinational power management company with 2022 sales of $20.75 billion, founded in the United States with global headquarters in Dublin, Ireland, and a secondary administrative center in Beachwood, Ohio.
