Meyer Burger, an international industrial manufacturer of solar cells and solar modules, has announced its plans to expand into the City of Colorado Springs by building a "high-performance solar cell manufacturing facility" and staffing it with Colorado locals.
The clean energy facility will be in charge of making "'Made in USA'" solar cells that will be used to supply the company's solar module production facility in Goodyear, AZ.
The post will exclusively focus on producing "'Made in USA'" solar cells in response of new market regulations in the United States. By following these requirements, the project becomes eligible for an additional 10 percent bonus investment tax credit outlined in the US Inflation Reduction Act (IRA).
The tax credit would be worth $1.4 billion and last from the beginning of production until the end of 2032. This money would be on top of the $90 million financial package being put together by:
- El Paso County
- Colorado Springs Utilities
- City of Colorado Springs
- Colorado Springs Chamber & Economic Development
- Corporation Deal Closing Fund
- several other sources
Pending final approval, the package would be made up of discounted electricity and water rates, tax credits, and direct support.
These funds also don't include the $300 million that the company is expected to receive via pre-payments from module off-take partners as well as a loan from the Department of Energy.
In order to quickly enter the market, the clean energy facility will be housed at a former semiconductor fabrication plant and use equipment that was originally supposed to be used at another 2-gigawatt solar cell expansion site in Bitterfeld-Wolfen, Germany.
Production is set to begin in the fourth quarter of 2024.
The 350 jobs that will be created by the construction of this clean energy site are expected to generate an average annual wage of $77,842— 129.4% of the average annual wage in El Paso County so far. The company will be looking to fill positions for:
- project managers
- operators
- facility managers
- process engineers
- maintenance personnel
The Colorado Economic Development Commission has already approved the company for up to $4,944,960 in performance-based Job Growth Incentive Tax Credits over an 8-year period.
Meyer Burger had also considered expanding to New York, Indiana, or Arizona, but Colorado's strong local supply chain, commitment to renewable energy, access to local talent, and availability of an existing facility all factored in the decision to move to Colorado Springs instead.
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