The former Concord, NC Philip Morris USA cigarette plant is in for a total transformation. Alevo Group, a small start-up company, is taking over the massive, abandoned facility. It is not uncommon for new businesses to open, but this particular endeavor sets the stage for a tremendous boost in the local economy asAlevo is placing great focus on creating job opportunities.
Alevo manufacturers electric grid-management products and is spending over $1 billion to bring the plant to full capacity. The new technology aims to solve the problem of storing electric energy for future use. Alevo has developed a battery system with the ability to be charged and discharged over 43,500 times and includes controllable software. As more and more nations strive to lower emissions that cause climate changes, this new technology involving energy-savings will become extremely valuable, especially to utility companies and grid operators using fossil fuel power.
When Philip Morris closed its doors in 2009, more than 2,000 people lost employment. This was a great blow to the area, but things are now in an upswing. In 2015, Alevo plans to hire 500 workers. As sales rise, the three-year plan involves hiring up to 2,500 more employees. If suppliers and other businesses establish operations nearby, total employment may top 6,000. Victory Industrial Park is the ideal location for expansion. The 3.5 million square-foot plant and undeveloped 1,500 surrounding acres are attractive incentives for other companies, which would create even more jobs. Tony Walsh, COO of Alevo, explains the first products are expected to roll off the assembly line by July 2015.
It may not seem like one business could make such a difference to the Charlotte area, but Alevo may be starting a trend. If this company manages to reach its goals of creating unique technology that takes the power industry by storm, Concord will be a major beneficiary of its success. Jobs from this business alone will get numerous people back to work. Attracting other businesses to the area is an added bonus. Alevo not only will have a positive affect on the local economy, it will help the global environment with its new technology as well.
