Monday, July 5, 2010

Abound Solar Inc., a Solar Panel Manufacturer, to Locate in Tipton Indiana

Abound Solar, Inc. will locate a solar module manufacturing operation in an 800,000 square-foot facility previously constructed in partnership with Chrysler for the German transmission maker, Getrag. Abound Solar projects to add up to 850 workers by 2013 at the Tipton site.

This move represents a more than $500 million investment in machinery, equipment and building improvements.

Abound Solar's thin-film photovoltaic module manufacturing technology was born out of Colorado State University in the late 1980's. The company, which also has production operations in Longmont, Colo., expects that when completed, the Tipton site will be the largest solar panel manufacturing facility in the U.S., producing millions of panels annually.

The company intends to hire for positions such as engineers, technicians and production associates once facility renovations begin.

The IEDC offered Abound Solar, Inc. up to $11.85 million in performance-based tax credits and $250,000 in training grants based on the company's job creation plans and will also provide workforce and ombudsman assistance. Tipton County has approved additional incentives including tax abatement for the company along with tax increment financing dollars to the land trust which owns the building.

Abound Solar is a manufacturer of next-generation, cadmium telluride thin-film photovoltaic modules. Abound Solar is producing solar modules that significantly reduce the cost of generating solar electricity using a robust, commercial-scale, continuous manufacturing process.


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