• 36°

Concord battery factory to close, putting 290 people out of work

Staff report

CONCORD — Battery manufacturer Alevo has filed for bankruptcy, which means 290 people at its plant in Concord will lose their jobs, according to a report in Business Today.

Alevo, which is headquartered in Switzerland, opened in Concord in 2014 in the old Philip Morris plant on U.S. 29.

The city, Cabarrus County and Cabarrus Economic Development will work with the property owners on redevelopment opportunities, said Concord Mayor Scott Padgett.

“I was extremely disappointed to receive notice that Alevo is ceasing operations today,” Padgett said. “My most immediate concern is for the 290 individuals and their families that will be affected by a loss of employment. They took a chance on a promising future with Alevo, and now have to start back at square one.”

The company was expected to spend $251 million on new production lines and equipment here, creating 200 jobs.

In February, the Cabarrus County Board of Commissioners and Concord City Council approved two five-year, performance-based tax incentives totaling $4,291,596 for the city and $6,258,577 for the county, according to the Business Today report.

The project also included a $2.6 million approved by the state Economic Investment Committee.

The Concord location was Alevo’s first U.S. manufacturing site where the rechargeable GridBank Lithium-Ion battery storage system is made. The company was hiring manufacturing, engineering, maintenance, logistics, supply chain and other employees.

Comments

News

Nesting no more: Eagles appear to have moved on from Duke’s Buck Station

Business

The Smoke Pit leaving downtown Salisbury for standalone building on Faith Road

Education

Shoutouts

High School

High school football: Hornets’ Gaither set the tone against West

Local

Salisbury to show off new fire station

Education

Livingstone College to host virtual Big Read events this month

Local

City makes some appointments to local boards, holds off on others to seek women, appointees of color

Education

Education briefs: RCCC instructor honored by Occupational Therapy Association

Local

Second quarter financial update shows promising outlook for city’s budget

Columnists

Genia Woods: Let’s talk about good news in Salisbury

Local

City attorney will gather more information for Salisbury nondiscrimination ordinance

Education

North Hills planning to hold May fundraiser in person

East Spencer

Developers aim to transform former Dunbar School site into multi-purpose community development

Education

Knox student organizing event to get community cycling

Education

Decision on Essie Mae charter appeal expected Thursday

Nation/World

House passes sweeping voting rights bill over GOP opposition

Nation/World

Police uncover ‘possible plot’ by militia to breach Capitol

Nation/World

States rapidly expanding vaccine access as supplies surge

News

North Carolina Gov. Roy Cooper receives COVID-19 vaccine

News

North Carolina health officials urge schools to reopen

Crime

In letter, PETA criticizes Salisbury Police for K-9 video

Coronavirus

Three deaths, 29 new COVID-19 positives reported

Crime

Blotter: Bullet holes found in woman’s Park Avenue apartment

Crime

Man faces assault charges for domestic incident