Carrier Global Corporation is an American multinational home appliances corporation based in Palm Beach Gardens, Florida. Carrier was founded in 1915 as an independent company manufacturing and distributing heating, ventilating and air conditioning (HVAC) systems, and has since expanded to include manufacturing commercial refrigeration and foodservice equipment, and fire and security technologies.
|Founded||June 26, 1915Syracuse, New York, U.S.|
|Headquarters||13995 Pasteur Boulevard|
Palm Beach Gardens, Florida 33418
|Dave Gitlin (CEO)|
|Revenue||US$17.46 billion (2020)|
|US$3.08 billion (2020)|
|US$1.98 billion (2020)|
|Total assets||US$25.09 billion (2020)|
|Total equity||US$6.58 billion (2020)|
Number of employees
|Footnotes / references|
Willis Carrier is credited with inventing modern air conditioning in July 1902. In 1915, Carrier and six other engineers pooled $32,600 to form the Carrier Engineering Corporation. They purchased their first factory in 1920, in Newark, New Jersey.
The corporation bearing his name marketed its air conditioner to the residential market in the 1950s, which led to formerly sparsely populated areas such as the American Southwest becoming home to sprawling suburbs.
In 1955, Carrier merged with Affiliated Gas Equipment, Inc., which owned the Bryant Heater Co., Day & Night Water Heater Co., and Payne Furnace & Supply Co.
International Comfort Products (ICP), headquartered in Lewisburg, Tennessee, was acquired by Carrier in 1999. In the 1990s Carrier stopped using the "Day & Night" brand (which was the "D" in the BDP division, or Bryant-Day & Night-Payne) but it was revived in 2006 by ICP.
In 2001 Carrier was the "world's largest manufacturer of air-conditioning, heating, and refrigerator equipment" with a "total employment of 42,600" and a revenue of $8.9 billion. Carrier announced that it would be closing its DeWitt, New York plant. This led to the layoff of 1000 employees.
In early 2008, Carrier acquired Environmental Market Solutions, Inc. (EMSI), an environmental and green building consulting company based in the United States. The company has received Leadership in Energy and Environmental Design (LEED) certification from the US Green Building Council for its factories in Charlotte, NC, and Huntington, IN (2009), Shanghai, China (2010), and Monterrey, Mexico (2011).
In September 2013, Carrier, Otis, and United Technologies Fire and Security were combined into one subsidiary, UTC Building & Industrial Systems. In 2016, Otis was split off, with the remainder becoming UTC Climate, Controls & Security.
In February 2016, Carrier announced it would close its Indianapolis factory and move production to Monterrey, Mexico. HVAC Systems and Services North America president Chris Nelson cited "ongoing cost and pricing pressures" and Carrier's "existing infrastructure and a strong supplier base" in Mexico, saying that the move would allow the company "to operate more cost-effectively." The Carrier spokesperson told the crowd that there would be no immediate impact on jobs, that the move would take place over three years, and no jobs would be affected until mid-2017, with the move to be completed by the end of 2019.
On November 30, 2016, Carrier announced that it had negotiated an agreement with President-elect Trump and Vice President-elect Mike Pence to continue manufacturing gas furnaces in Indianapolis, in addition to retaining engineering and headquarters staff, preserving more than 1,000 jobs in Indianapolis. The agreement included a state incentive package of about $7 million over 10 years. The number of jobs saved was later revised down to 800.
In May 2017, as part of their previously announced plan, Carrier told the state of Indiana that it will cut 632 jobs from its Indianapolis factory. Layoffs began at the end of July, 2017 with each worker receiving one week's salary for each year of employment, education and job training, plus 6 months of health insurance as part of the severance package.
The New York Times reported on August 10, 2018, that Carrier's Indianapolis furnace plant was plagued by low morale and absenteeism because "employees share a looming sense that a factory shutdown is inevitable — that Carrier has merely postponed the closing until a more politically opportune moment."
In March 2020, United Technologies announced that the separation and spin-off of Carrier had been completed.
Willis Carrier moved his facilities from New Jersey to Syracuse, New York, in the 1930s. During the late 20th century, when it was acquired by UTC, it was Central New York State's largest manufacturer. Due to increasing labor and union costs in the Central New York area, Carrier has substantially downsized its presence in Syracuse, with manufacturing work being moved to a variety of domestic and international locations. Meanwhile, managerial employees were moved closer to UTC's Connecticut corporate headquarters which represented a challenge to the local economy. Over the course of 2011, the majority of the manufacturing buildings of the Syracuse campus were demolished at a cost of nearly $14 million. Despite the loss of manufacturing jobs, the suburban Syracuse Campus, in DeWitt, New York, remained the primary engineering and design center for Carrier products, with over 1,000 employees and contractors on site. This site also houses the Customer Care Call Center for Carrier branded products.
In 1980, Carrier was allowed to name the Carrier Dome, the football and basketball arena at Syracuse University, after Mel Holm, the company's then-CEO chair of the university's Board of Trustees, gave the university $2.75 million toward the facility's construction. Despite being named for an air conditioner manufacturer, the Carrier Dome was not air-conditioned for the first four decades of its lifespan, only having it installed during renovations that were completed in 2022. Despite finally installing air conditioning, Syracuse announced an end to the perpetual naming rights deal of the dome with Carrier Corp. and that nearby wireless company JMA Wireless would hold naming rights to the stadium moving forward.