Columbus, Indiana is set to welcome a new kid in town found in the form of NuSun. The company is a solar panel manufacturer that prides itself in the building and assembling of U.S. made nanocoated crystalline-silicon PV panels. NuSun will be putting US$8.9 million towards the purchase and set-up of their new Indiana facility, which is slated to begin production in mid-2011.
NuSun was incorporated in 2009 as part of Greenworks Energy. The company plans to produce 25MW of solar panels from their new Indiana location and will use its connections with OEM cell suppliers in Asia and Europe to buy solar cells while also working with Heliux Technology on a semi-automated turnkey production line for low cost, high-yield solar panels.
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In order to help NuSun decide upon Columbus as their home for their manufacturing plant, the city, Bartholomew County and the Columbus Redevelopment Commission pledged US$325,000 in combined economic development income tax (EDIT) and tax increment fund (TIF) support. Columbus has also promised to make the proceeds of a US$500,000 grant from the Lawrenceburg Regional Economic Development grant program available to NuSun.
Additionally, the Indiana Economic Development Corporation will offer NuSun up to US$2.25 million in performance-based tax credits and up to US$100,000 in training grants. Finally, the Indiana Office of Community and Rural Development (OCRA) has agreed to consider an application for the city to provide NuSun with an added US$600,000 grant, which will be used to furnish the facility with necessary equipment.
“We are confident that Columbus will offer us a competitive cost environment and productive workforce,” said Ryan Stout, founder and chief executive officer of NuSun. “As we plan our launch of this exciting new venture in Indiana, the support we have received from the local community and the state has been tremendous.”
NuSun aims to move into the Indian location by the middle of February 2011 and will have improvements and equipment installation start shortly after they take occupancy.
