Corning’s board of directors has approved a capital expenditure of approximately US$180 million to expand the company’s Harrodsburg, Ky, manufacturing facility. The expansion will provide additional capacity for Corning’s Gorilla glass business and entry into the growing thin-film photovoltaic glass market.
“Thin-film photovoltaic technology is a rapidly advancing solution within the fast-growing solar energy industry and plays to Corning’s strengths in flat glass, materials science, and light management,” said Gary Calabrese, vice president and science and technology and director at Photovoltaic Glass Technologies. “We have already generated significant customer interest in our innovative solutions,” he said.
The Harrodsburg investments are included in Corning’s previously announced capital expenditure expectations for 2010 and 2011. Assistance for this expansion project has been offered by the state of Kentucky and Governor Steven Beshear’s office through the Kentucky Economic Development Finance Authority in up to US$4.5 million in Kentucky Business Investment incentives, and up to US$1 million in tax rebates related to construction costs.