Ireland-based diversified industrial manufacturer Eaton has received more than $26.6 million in investment tax credits from the U.S. Internal Revenue Service. The tax credits were awarded to Eaton after the company made more than $200 million worth of clean energy and workforce training investments at its facilities in Nacogdoches, Texas; El Paso, Texas; and in
Ireland-based diversified industrial manufacturer Eaton has received more than $26.6 million in investment tax credits from the U.S. Internal Revenue Service.
The tax credits were awarded to Eaton after the company made more than $200 million worth of clean energy and workforce training investments at its facilities in Nacogdoches, Texas; El Paso, Texas; and in Waukesha at 2300 N. Badger Drive.
The tax credits were awarded through the Qualifying Advanced Energy Project Tax Credit program, which is funded by the Inflation Reduction Act.
Eaton earned $1.3 million of the tax credits after investing $22 million at its Waukesha facility last year. The company purchased equipment aimed at increasing the manufacturing capacity of three-phase transformers for utility, data center, large commercial and industrial applications.
Eaton is also working with Waukesha County Technical Collegeon curriculum and has constructed a dedicated training center where students can gain experience producing grid modernization solutions.
“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."
Eaton also received $16.3 million in tax credits for a $100 million dollar expansion project that broke ground last fall in Nacogdoches, Texas. The expansion doubled the production capacity of Eaton's voltage regulators and created more than 200 manufacturing jobs.
The remaining $9 million in tax credits stems from work being done at the company’s El Paso, Texas plant. Eaton is investing $80 million to open a new facility, creating more than 600 manufacturing jobs and increasing capacity at its existing El Paso plant.
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