Eaton, which employs roughly 70,000 people worldwide, got $100 million in federal stimulus contracts through the third quarter of 2009, according to Thomas S. Gross, vice-chairman and chief operating officer - Electrical Sector.
Gross said the company expects the amount will rise to about $500 million by the end of this year, and total roughly $1 billion next year. He anticipates much of federal money will go toward projects like hybrid electric vehicles, advanced lighting controls and demonstration projects to improve the electrical power grid.
"We are involved in so many technologies the government is interested in," Gross said after a Tuesday morning event at the National Press Club where representatives from industry, academia and the federal government said the three sectors need to collaborate on a comprehensive strategy to reduce nationwide energy use.
University of Pittsburgh engineering professor Gregory Reed said that nationwide strategy should involve everything from renewable energy to eco-friendly building design to smart grids.
"There is no single silver bullet technology," said Richard Kidd, program manager of the U.S. Department of Energy's federal energy management program.
Eaton Corp. spokesman Gary Klasen said the company has shed 15 percent of its workforce in the past 18 months, and it's hard to say whether the expected federal stimulus dollars will result in new jobs. He said the company has bid on many contracts, and any job possibilities would depend on what it ends up winning.
"We believe we have the people in position to be able to handle that work as we move forward," said Klasen.
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