Northam announces $3.6M expansion of Eaton in Henrico
Power management company to create 80 jobs
Power management manufacturer and supplier Eaton Corp. plc will invest $3.6 million to move production from California to its facility in Henrico County, Gov. Ralph Northam announced Friday.
The move will create 80 jobs through the expansion of the Henrico facility’s production capabilities and the addition of new lines for electrical component manufacturing. Eaton, an American Irish-domiciled company, provides sustainable solutions to help customers better manage electrical, hydraulic and mechanical power.
“Eaton’s decision to move production to Henrico County and expand its presence in our commonwealth demonstrates the strength of Central Virginia’s manufacturing workforce,” Northam said in a statement. “The company’s commitment to sustainable power solutions aligns perfectly with the Clean Energy Virginia initiative, and we look forward to partnering with Eaton as we work to accelerate our transition to renewable energy.”
Eaton operates in more than 175 countries and has distribution centers in Henrico County and Charlottesville. Eaton employs approximately 92,000 people and had revenues of $17.9 billion in 2020.
“Optimizing our existing Eaton footprint in Henrico will ensure that our operations are well-positioned for future success,” said Chris Butler, senior vice president and general manager of Eaton’s power quality division. “This investment further solidifies our commitment to our operations in the greater Richmond area, and we look forward to being a longstanding member of this community.”
The Virginia Economic Development Partnership worked with the Henrico Economic Development Authority and Port of Virginia to secure the project for Virginia and will support Eaton’s job creation through VEDP’s Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities.
As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies. VJIP is state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for citizens. The company is eligible to receive benefits from the Port of Virginia Economic and Infrastructure Development Zone Grant Program, as well as state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.