117 0 Kommentare Eaton Awarded $26.6M in Federal Tax Credits Supporting U.S. Manufacturing and Workforce Training Programs Advancing Clean Energy Projects

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240425215888/en/

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.

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"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.”

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