Posted on 02/22/2017 1:07:37 PM PST by 2ndDivisionVet
Concord-based Alevo Energy is considering spending more than $250 million to expand production at its utility battery plant and add 202 jobs there.
This week, Concord City Council voted to offer Alevo $4.2 million in corporate incentives if it chooses to expand and add jobs over the coming five years. Cabarrus County is considering a similar offer.
“The jobs and the investment can have an important impact on the whole community,” says Joseph Beasley, economic development coordinator at the city of Concord.
For Alevo, the project would become the first major infusion of capital since its owners announced in 2014 that they planned a $1 billion GridBank factory in the former Philip Morris cigarette-manufacturing complex.
The new jobs would boost employment at the Concord site to more than 500.
The expansion would also be the first time that Alevo, a Swiss-based group of companies founded in 2009, has asked for corporate incentives.
Other details about what the expansion project would entail for Alevo weren’t immediately available.
The GridBanks that are made in the Concord factory are essentially batteries the size of shipping containers. Those batteries on wheels are hooked into local electric grids to provide stability and battery backups to a community’s electricity supply.
The company has taken longer than initially expected to get to commercial production of the battery and its control systems. When the company first announced its plans for the Concord battery manufacturing plant, it had projected that the first GridBanks would roll off its production line by the end of 2015. But installation of the production line went slowly as did orders for the new system.
Last month, Alevo installed its first system in Hagerstown, Md.
Whoa whoa whoa, somebody needs to tell these guys that North Carolina discriminates against men who want to go into women’s restrooms!
More winning for American workers.
It’s a NC company already.
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