Eaton Stock Rises as $3.4 Billion Investment Powers New South Carolina Facility

Eaton Corporation, a leader in intelligent power management, has announced a significant investment of $3.4 billion to establish a new three-phase transformer manufacturing facility in Jonesville, South Carolina. This move is part of Eaton’s strategic expansion to meet the rising demand for transformers from utilities, data centers, and industrial sectors. The new facility is expected to commence operations in 2027.

This development marks Eaton’s eleventh facility in South Carolina. It reflects the company’s commitment to bolstering its production capabilities while enjoying the support of local, state, and federal incentives. Additionally, collaborations with local schools and workforce development programs have been established to ensure a robust pipeline of skilled labor.

Mike Yelton, President for Eaton’s Electrical Sector in the Americas, emphasized the growing demand for power solutions across multiple sectors. He acknowledged South Carolina's historical role in manufacturing and innovation, and expressed gratitude for the state's assistance. Yelton affirmed Eaton's dedication to increasing production and employment across the U.S., aligning with the objectives for affordable, reliable, and clean energy.

Since its founding in 1911, Eaton has grown into a formidable power management company, with 2024 revenues nearing $25 billion and operations spanning more than 160 countries. Eaton continues to lead in numerous markets by maintaining standards of operational sustainability and power management.

The Jonesville facility will benefit from Eaton's extensive experience of over a century in transformer innovation and manufacturing. The new plant will focus on producing three-phase transformers, pivotal for stable electrical power supply, supporting America’s drive towards grid modernization. This project signifies not only Eaton's investment in regional economic growth but also its commitment to the electrification and industrialization of the energy infrastructure.

The plant's establishment is anticipated to create 700 new jobs, invigorating the local job market and contributing positively to the regional economy. Moreover, Eaton's investment strategy underscores its commitment to the North American market, having invested over $1 billion in its electrical solutions manufacturing since 2023. This initiative sets a benchmark for industry collaboration and innovation, fostering a conducive environment for sustainable economic development and technological advancement in power management.