North Carolina Economic Development Guide


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Page 48 of 83

& Co. Layoffs and uncertainties rattled Bank of America, which after acquiring Merrill Lynch & Co. in 2008 had about 301,000 employees. When it fled its 2011 annual report, it had about 280,000 and was planning more cuts. A few blocks from the bank headquarters, Duke was expanding and attracting a coterie of companies. Baton Rouge, La.-based The Shaw Group Inc., which designs and builds emissions scrubbers, nuclear plants and systems along with other utility essentials, announced a Charlotte expansion in 2005 that would boost its workforce from 1,000 to more than 1,400. Other companies were growing, too. Siemens Energy, part of Germany-based Siemens AG, expanded its plant in Charlotte that manufactures steam and gas turbines from about 550,000 square feet to more than 1 million square feet and its payroll to 1,800 employees from 750 in 2010. Charlottebased companies Babcock & Wilcox Co., SPX Corp., Celgard LLC, CoaLogix Inc. and others pitched in to supply hardware and expertise to the energy industry. Energy powers Zurich, Switzerlandbased ABB Ltd., Bethesda, Md.-based Areva Inc. North America and San Francisco-based URS Corp. expanded their operations in or moved to North Carolina, and Japan-based Toshiba Group and several partners, including The Shaw Group, bought Monroeville, Pa.-based Westinghouse Electric Co. and beefed up its Tar Heel presence. Huntersville-based Lime Energy Co., along with Japanbased Mitsubishi Nuclear Energy Systems and Charlotte-based Toshiba America Nuclear Energy Corp., ramped up hiring. The utility industry���s analytical stalwart, Duke energy Charlotte-based Duke Energy, the nation���s largest electric utility, is retiring coal-fred power plants such as Riverbend Steam Station, built in 1929, and will need workers trained in new technology. North Carolina Economic Development Guide 47

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