Swiss energy conglomerate ABB is beefing up its already-substantial Triangle presence by moving its North American corporate headquarters to Cary.
The company announced today that it will be transferring functions from its former headquarters site in Norwalk, Conn., over the next several years. The total number of jobs at the Cary headquarters hasn’t yet been determined, but about 100 positions in Norwalk are expected to eventually shift to Cary.
Cary was the winner over four other U.S. cities ABB considered.
A year ago the company announced it was leasing its third office in the Triangle -- and adding dozens of workers –- in Regency Creek I in Cary. Today the company has about 500 Triangle employees and nearly 900 across North Carolina. It has manufacturing facilities in Greensboro, Pinetops and Moncure.
ABB is the world’s largest builder of electricity networks. The company’s North American Power Products and Power Systems division has operated out of N.C. State University’s Centennial Campus since 1991. It also has a research center at Centennial Campus.
"ABB already has a significant and growing presence in the Raleigh-Cary metropolitan area in terms of proximity to some of our key customers, our employee base, and various divisional headquarters," Enrique Santacana, president and CEO of ABB in North America, said in a prepared statement. "After a thorough analysis of economic trends, commercial property rates and other cities, it became clear that there were many advantages in moving our headquarters to Cary."
Those advantages, according to the company, include "significant cost savings" and a favorable business climate. Commercial property rates in Cary, ABB said, are nearly 50 percent less than in Norwalk.
The Cary office will be the hub for a business that encompasses more than 15,000 employees in the United States, Canada, Mexico, Central America and the Caribbean. The ABB Group employs about 120,000 people worldwide.