News | 4 min read
Eaton to expand in Henrico County, creating 80 new jobs
February 19, 2021
News | 4 min read
February 19, 2021
RICHMOND — Gov. Ralph Northam today announced that power management company Eaton will invest $3.6 million to move production from California to its facility at 4200 Oakley Court in Henrico County. This investment will create 80 new jobs through the expansion of production capabilities and the addition of new lines for electrical component manufacturing.
“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,” said Gov. Northam. “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 provides sustainable solutions that help customers effectively manage electrical, hydraulic, and mechanical power more safely, more efficiently, and more reliably. The company operates in more than 175 countries, with distribution centers in Henrico County and Charlottesville. Eaton employs approximately 92,000 people and had revenues of $17.9 billion in 2020.
“Virginia’s diverse advanced manufacturing sector is a cornerstone of our economy, thanks to industry leaders like Eaton that reinvest and create high-quality jobs,” said Secretary of Commerce and Trade Brian Ball. “We are pleased to support Eaton’s growth in Virginia, and are thrilled that the company will increase production in Henrico County.”
“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 the 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.
“We are pleased that Eaton has chosen to expand its footprint in Henrico,” said Frank Thornton, member of the Henrico County Board of Supervisors representing the Fairfield District. “Henrico County is the ideal location for Eaton to serve its customers and access markets across the United States and abroad. We wish them continued success as a valued member of the Henrico business community.”
“This announcement is another example of Virginia’s ability to compete in the global marketplace, create a significant number of jobs, and grow the state’s manufacturing sector,” said Virginia Port Authority CEO and Executive Director Stephen A. Edwards. “We are always pleased when a Virginia-based company reinvests in the Commonwealth and does so, in part, because of the international trade opportunities provided by The Port of Virginia. We welcome the opportunity to support Eaton’s expansion by providing it funding through the port’s Economic and Infrastructure Development Grant Program and Virginia port tax credits.”
“This is a significant step forward for job growth in Henrico County,” said Sen. Jennifer McClellan. “Eaton’s expansion means 80 new jobs and continuing to grow Henrico County as a manufacturing hub. Thank you to Governor Northam and his administration for leading this effort to bring jobs to the greater Richmond area.”
“Especially during this time of a healthcare crisis and a shrinking budget, we welcome this investment into our region,” said Del. Delores McQuinn. “The creation of new jobs is crucial to the continued improvement of the quality of life for the residents in our area. We look forward to this partnership and the expansion of production and manufacturing capabilities for Eaton at its Henrico County location.”