{"id":745063,"date":"2023-04-04T08:29:40","date_gmt":"2023-04-04T12:29:40","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/abb-invests-170-million-in-the-u-s\/"},"modified":"2023-04-04T08:29:40","modified_gmt":"2023-04-04T12:29:40","slug":"abb-invests-170-million-in-the-u-s","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/abb-invests-170-million-in-the-u-s\/","title":{"rendered":"ABB invests $170 million in the U.S."},"content":{"rendered":"<div class=\"mw_release\">\n<p>Cary, NC, April  04, 2023  (GLOBE NEWSWIRE) &#8212;  <\/p>\n<ul>\n<li>Investment reflects increased customer demand for electrification and automation products<\/li>\n<li>Wisconsin greenfield facility for drives and services demonstrates continued commitment to U.S. customers and workforce<\/li>\n<li>Inflation Reduction Act supports company\u2019s continued investment in creating more secure supply chain and strengthening local manufacturing<\/li>\n<\/ul>\n<p \/>\n<p>ABB is accelerating its growth strategy in the United States by investing approximately $170 million and creating highly skilled jobs in manufacturing, innovation and distribution operations. ABB is committed to growing in the U.S. by investing in its electrification and automation businesses that meet increased demand from industry-leading customers, while supporting the clean energy transition and the trend towards reshoring of production. This commitment is highlighted by today\u2019s pouring of the concrete foundations for a greenfield drives and services facility in New Berlin, Wisconsin. The U.S. is ABB\u2019s largest market, comprising 24 percent of the company\u2019s annual revenue.<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=oq-y07aPmDMKCeommRaCTMMaSPMHfG9s4UVbYV5Z6VLzriMhh7RLuEUVVmNWlvsU\" rel=\"nofollow noopener\" target=\"_blank\">[1]<\/a><\/p>\n<p>\u201cThe United States is critical to ABB\u2019s success as a market that will continue to grow and benefit from our product portfolio that enables the transition to a more energy-efficient future,\u201d said Bj\u00f6rn Rosengren, CEO of ABB. \u201cCurrently, 85 percent of ABB\u2019s sales in the U.S. are from products produced locally, which provides customers with a more secure supply chain and keeps good-paying manufacturing jobs in America.\u201d<\/p>\n<p>ABB technology touches every sector of the economy, from transportation to utilities to buildings. Recently passed legislation like the Inflation Reduction Act, CHIPS Act, and Infrastructure Investment and Jobs Act, gives ABB confidence to invest in manufacturing capacity, distribution systems and technology innovation to bring products and services closer to customers.<\/p>\n<p>Investment projects underway across the U.S. include:<\/p>\n<p \/>\n<ul>\n<li>\n          <b>New Berlin, Wisconsin<\/b>: Opening of Drives and Services manufacturing facility will increase U.S. production capacity of industrial electric drives and provide additional customer services.\u00a0The business manufactures a wide range of AC variable frequency drives and controls which reduce energy consumption in buildings and industrial applications in the U.S. market.\u00a0The nearly $100 million greenfield investment is expected to be completed in late 2024 and is replacing a neighboring existing facility, which employs approximately 720 workers.\u00a0Some 100 new jobs will be added over the next three years.<\/li>\n<li>\n          <b>Memphis, Tennessee:<\/b> Investing $3 million in the opening of an Installation Products Research &amp; Development Lab and Innovation Center to accelerate development of new products. ABB remains the seventh-largest private employer in Memphis.<\/li>\n<li>\n          <b>Atlanta, Georgia:<\/b> Opening of packaging and logistics facility for end-to-end robotic automation solutions in warehouse and distribution, retail, and logistics industries. This $2 million investment will open in 2023 and create approximately 15 jobs.<\/li>\n<li>\n          <b>Albuquerque, New Mexico<\/b>: Previously announced $40 million investment in a new facility to manufacture Elastimold, the leading brand for underground cable accessories, to support strengthening a more sustainable U.S. electrical grid. It underpins ABB\u2019s commitment to improve reliability and resilience of the U.S. infrastructure and assure greater safety for American consumers, businesses, and communities. The investment will create 55 new jobs and will be completed by 2024.<\/li>\n<li>\n          <b>Auburn Hills, Michigan<\/b>: Previously announced expansion of North American robotics headquarters and manufacturing facility as more customers turn to automation to build resilience while improving efficiency and flexibility as part of the near and reshoring of production. The $20 million investment will create 72 jobs and be completed by the end of 2023.<\/li>\n<li>\n          <b>Lehigh Valley, Pennsylvania:<\/b> Previously announced opening of Installation Products Division Northeast Distribution Center in 2023. This more than $4 million investment will create more than 100 jobs and further regionalize ABB\u2019s global supply chain to help reduce delivery times of high-demand electrification products to contractors by up to 50 percent.<\/li>\n<li>\n          <b>Columbia, South Carolina:<\/b> Previously announced opening of electric vehicle charger manufacturing facility to build up to 10,000 chargers per year, ranging from 20kW to 180kW in power, to support operators building the national charging infrastructure. ABB E-mobility\u2019s investment will create over 100 jobs.<\/li>\n<\/ul>\n<p \/>\n<p>\u201cThe Inflation Reduction Act is triggering investment in clean energy and supporting businesses that can produce technology locally,\u201d said Michael Gray, U.S. Country Holding Officer of ABB. \u201cMore than ever before, ABB is designing and producing products domestically to serve our U.S. customers, as they move toward more sustainable electric power generation, clean energy manufacturing, electric transportation, and industrial efficiency including carbon capture and storage, as well as methane reduction.\u201d<\/p>\n<p>The U.S. federal government projects real gross domestic product to increase 2.5 percent in 2023, average 2 percent annual growth between 2024-2028, and grow 2.3 percent per year during 2029-2032.<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BHfJZ3irhoiUyfuqg64sWkOpkWTfd4-dgljjUnl42V1esbqr72B84kmeBIgqL0zX\" rel=\"nofollow noopener\" target=\"_blank\">[2]<\/a> This projected GDP growth, combined with an estimated global EV infrastructure investment of more than $1 trillion by 2040<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_B8UqSM2B1N47Vq2LCxsBjvp2y98bqdHi2CQB40ZzwcgZ9HrDTDCVnf-M5nXfRkd\" rel=\"nofollow noopener\" target=\"_blank\">[3]<\/a>, gives ABB the confidence to continue investing. ABB projects 25 percent of global EV infrastructure investment will take place in the U.S.<\/p>\n<p>Since 2010, ABB has invested $14 billion in U.S. plant expansions, operational improvements, state-of-the-art equipment, products, and people, making it the company\u2019s largest market. With approximately 20,000 employees in more than 40 manufacturing and distribution facilities, ABB is investing, growing and serving customers across America through industries that create jobs, encourage innovation and achieve a more productive, sustainable future.<\/p>\n<p>\n        <b>ABB<\/b> is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company\u2019s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB\u2019s ~105,000 employees are committed to driving innovations that accelerate industrial transformation. www.abb.com<\/p>\n<p \/>\n<hr \/>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pGiSnofWfoHrI07dNlFGs23sdmt-ivjnSjMt26CkMmxKuvGzojQlnWlYlV4xuSLx\" rel=\"nofollow noopener\" target=\"_blank\">[1]<\/a> Based on 2022 ABB Group revenues<\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BjLAgOArikI1wWa1Y1CpC2GplzrL-Q6J7Dgv6uii4x-Q-v5uppdyEo5CRtByH04V\" rel=\"nofollow noopener\" target=\"_blank\">[2]<\/a> Biden Administration 2023 budget<\/p>\n<p>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1aA1ieX160ERciEcJ2HdZ2PqTlu5h0hAvR6WauXVc14se1lY-YhHNwT3C8gCQziq\" rel=\"nofollow noopener\" target=\"_blank\">[3]<\/a> BloombergNEF<\/p>\n<p id=\"gnw_attachments_section-header\">\n        <strong>Attachments<\/strong>\n      <\/p>\n<ul id=\"gnw_attachments_section-items\">\n<li>\n          <a target=\"_blank\" href=\"https:\/\/ml.globenewswire.com\/Resource\/Download\/95e7fc60-3c7d-4216-b635-d86b40ea9775\" rel=\"noopener\">Image: ABB New Berlin, WI rendering<\/a>\n        <\/li>\n<li>\n          <a target=\"_blank\" href=\"https:\/\/ml.globenewswire.com\/Resource\/Download\/b1267532-a34b-49cb-884b-d039c786cdb2\" rel=\"noopener\">Image: Increased customer demand for electrification and automation products in the U.S.<\/a>\n        <\/li>\n<\/ul>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgwMTAzOSM1NTA3MzU0IzIxOTE3NzQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/Yjk3YTA3NDEtNTM4OC00OTVlLThmMGMtZGIzMGJjOTJhYzk0LTEyMDMzMjc=\/tiny\/ABB.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Michael Touhill\r\nABB\r\n(404) 680-7930\r\nmichael.touhill@us.abb.com\r\n<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cary, NC, April 04, 2023 (GLOBE NEWSWIRE) &#8212; Investment reflects increased customer demand for electrification and automation products Wisconsin greenfield facility for drives and services demonstrates continued commitment to U.S. customers and workforce Inflation Reduction Act supports company\u2019s continued investment in creating more secure supply chain and strengthening local manufacturing ABB is accelerating its growth strategy in the United States by investing approximately $170 million and creating highly skilled jobs in manufacturing, innovation and distribution operations. ABB is committed to growing in the U.S. by investing in its electrification and automation businesses that meet increased demand from industry-leading customers, while supporting the clean energy transition and the trend towards reshoring of production. This commitment is highlighted by today\u2019s pouring of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/abb-invests-170-million-in-the-u-s\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ABB invests $170 million in the U.S.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-745063","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ABB invests $170 million in the U.S. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/abb-invests-170-million-in-the-u-s\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ABB invests $170 million in the U.S. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Cary, NC, April 04, 2023 (GLOBE NEWSWIRE) &#8212; Investment reflects increased customer demand for electrification and automation products Wisconsin greenfield facility for drives and services demonstrates continued commitment to U.S. customers and workforce Inflation Reduction Act supports company\u2019s continued investment in creating more secure supply chain and strengthening local manufacturing ABB is accelerating its growth strategy in the United States by investing approximately $170 million and creating highly skilled jobs in manufacturing, innovation and distribution operations. ABB is committed to growing in the U.S. by investing in its electrification and automation businesses that meet increased demand from industry-leading customers, while supporting the clean energy transition and the trend towards reshoring of production. 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ABB is committed to growing in the U.S. by investing in its electrification and automation businesses that meet increased demand from industry-leading customers, while supporting the clean energy transition and the trend towards reshoring of production. 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