Vietnam-based global renewable energy company Bobiette Solar invests $294 million to build its first North American solar panel manufacturing facility in Greenville, bringing 908 new jobs to Pitt County It was revealed in the state's announcement that it will create a.
Boviet Solar is a Tier 1 photovoltaic technology manufacturer of solar panels and cells. The company develops solar power projects for commercial, industrial, and residential customers in the United States. The Pitt County expansion increases the company's global capacity to produce high-end solar panels and photovoltaic modules in a 1 million square foot advanced manufacturing facility.
“Our dream of producing solar PV modules in the United States has finally come true. We are bringing our superior manufacturing technology to our most important solar market, creating jobs and making our North Carolina We are proud to have a positive impact on the economy of the United States and accelerate the arrival of a global renewable revolution by expanding solar power as a widely used renewable energy source in the United States. We are committed to providing the highest performance, locally manufactured solar PV modules to meet the needs of our customers,” said Jimmy See, General Manager of Bobiette Solar.
The new positions the company is creating will range from engineers and production workers to managers and managers, with annual wages exceeding Pitt County's average salary of $50,937.
Bobiett Solar's project will be facilitated in part by a Job Development Investment Grant approved by the state Economic Investment Commission. During the grant's 12-year term, the project is estimated to grow the state's economy by $2.9 billion. Using a formula that takes into account new tax revenue generated by new jobs, the JDIG agreement allows him the potential to reimburse the company nearly $8.3 million over 12 years. State payments will only occur after performance verification by the Department of Commerce and the Department of Revenue that the company has met its progressive job creation and investment goals.
The return on public funds for this project is projected to be 47%, meaning that for every dollar of potential cost to the state, the state will receive $1.47 in state revenue. JDIG projects generate positive net tax revenue for the national exchequer, even after taking into account subsidy reimbursement payments to specific companies.
