ITC Holdings Corporation, the nation’s first independently owned and operated electricity transmission company, broke new ground last week in its new headquarters in Novi.
Formally a portion of DTE Energy, the company broke away in March of 2003 with 30 employees and a few hundred million dollars worth of DTE’s transmission assets, but "with little to no back in or company structure" said Lisa Aregon, the company’s marketing director.
The company has since expanded to over 230 full-time employees, 400 contractors, and has invested more than $500 million toward updating the electric grid in Michigan’s Lower Peninsula by building new lines and maintaining existing ones.
ITC expects to hire between 50 and 70 additional full-time employees over the next year.
Through their operating subsidiaries, ITCTransmission and METC (which they obtained in October of last year), ITC Holdings Corp. is the only publicly traded company engaged exclusively in the transmission of electricity in the country.
Source: Lisa Aregon, ITC
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