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Siemens plant will create more than 825 jobs in North Carolina
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Date: 03/12/2010
By:  Will Jacobs
While some industries may be hurting more than others, energy companies are continuing to make strides against the tough market. Because the majority of the U.S. relies on energy to run their households and buildings, energy companies are still hiring despite the rough economic climate. Additionally, with the Obama administration pushing for job creation, companies that can afford to hire are doing so for financial incentives and tax credits.

Siemens AG, a German industrial conglomerate, will be consolidating their production for gas turbines to make room for electrical utilities as their North Carolina plan expects an increase in electricity demand, according to the Associated Press. By moving their power unit to North Carolina, the company will create approximately 825 jobs for residents of the area, which will help boost the local economy.

Company heads said they also believe that this move will create even more jobs in the future, as the business continues to grow.

"Over the next five years, we expect employment at the Charlotte site to grow to nearly 1,800 people, with more than 1,000 of those positions new to Charlotte. With this move we're pushing ahead with our growth strategy in the U.S., which is our most important single-country market," Siemens AG chief executive officer (CEO), Peter Loescher, said in a statement.

The company decided to make the move to Charlotte after they were promised financial incentives such as tax breaks, grants and low-interest loans. According to the AP, this total package could be worth up to $154.75 million.

According to the Bureau of Labor Statistics, there still could be many positions available for individuals who aspire to be engineers. The agency predicts that engineering careers will increase by 11 percent by 2018.
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