Siemens’ layoffs reverse wind energy trend

December 26, 2012 by  
Filed under Green Energy News

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Siemens’ layoffs reverse wind energy trend – The Daily Gate City, Keokuk, Iowa: News: siemens, wind energy, fort madison, iowa economic development board,


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  • Presidential visit

    The Siemens plant on the south side of Fort Madison prepared for a visit on April 27, 2010, from President Barack Obama, who hailed the plant’s contribution to the wind energy industry. However, the company announced earlier this year that 407 employees would be laid off due to several factors.


Posted: Wednesday, December 26, 2012 12:00 pm
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Updated: 11:22 am, Wed Dec 26, 2012.


Siemens’ layoffs reverse wind energy trend

By Cindy Iutzi


Staff Writer

FORT MADISON – Siemens in Fort Madison announced in mid-September that it would lay off 407 workers at the local plant.

The giant producer of windmill blades cited record low natural gas prices, the impact of the recession and the reluctance by the U.S. Congress to enact legislation regarding production tax credit for new wind turbine installations. New orders had fallen off, causing the company to adjust manufacturing, projects and administrative support functions of the wind power production business.

Roughly 220 workers would be left at the local manufacturing facility after the layoffs were complete.

Siemens is maintaining a presence in Fort Madison until market conditions change.

Severance pay was given to employees with at least six months of service as well as benefits continuation, career counseling, resume preparation and job placement assistance.

Siemens Power Generation executed a purchase agreement for the manufacturing plant in Fort Madison six years ago. The Fort Madison plant was the company’s first turbine production facility in the U.S.

The State of Iowa, Lee County and the City of Fort Madison put an incentive package together for Siemens and the Iowa Economic Development Board approved direct assistance from the Economic Development Set-Aside Program and tax incentives from the High Quality Jobs Creation Program as part of the agreement to locate the project in the state.

Congress adopted energy production tax credits in hopes of increasing renewable energy sources in the U.S.

Production at the Fort Madison plant began in 2007.

More about Siemens

  • ARTICLE: Despite layoffs, Siemens will stay open
  • ARTICLE: Job creation is No. 1 priority for Taylor

on

Wednesday, December 26, 2012 12:00 pm.

Updated: 11:22 am.


| Tags:


Siemens,



Wind Energy,



Fort Madison,



Iowa Economic Development Board


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