ITC, a Novi-based firm, is the nation’s largest independent electric transmission company. It is posting some big numbers these days, passing the $1 billion mark in revenue and hiring another 38 people in metro Detroit.
It also reorganized its leadership structure, appointing about a dozen people to new executive positions. The moves are meant to set the stage for more growth by adding flexibility to take advantage of more development opportunities.
"The purpose of the reorganization is to drive up operational performance and drum up the value for the customers," says Linda Blair, executive vice president for
ITC.
ITC has experienced significant revenue gains since its launch a dozen years ago. In 2003 it recorded $102 million in revenue. A decade later it hit $914 million. Last year its revenues crossed the $1 billion mark.
That has enabled ITC to hire a number of people, growing its staff from 429 people in Michigan by the end of 2013 to 462 by the end of last year. Today it stands at 467. ITC has a total staff of 585 people across the U.S.
The company's leadership expects the current growth curve to continue in 2015 as the firm continues to attract more transmission line work
.
"This country has seen no meaningful investment in transmission line infrastructure for 30-40 years," Blair says.
Source: Linda Blair, executive vice president for ITC
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.