IBJNews

Solar firm investing $500M in unused Getrag plant; 850 jobs planned

Back to TopCommentsE-mailPrintBookmark and Share

A Colorado-based solar panel manufacturer will get federal help to take over the empty Getrag plant on U.S. 31 near Kokomo, creating as many as 850 jobs in the next three years and establishing what it says will be the largest such facility in the United States.

Abound Solar Inc. will get help from a $400 million federal loan guarantee to open the Tipton County facility and expand an existing plant in Colorado. President Barack Obama announced nearly $2 billion in federal economic stimulus funding for two solar energy firms on Saturday, touting thousands of new jobs and increased use of renewable energyy. Abound Solar and Abengoa Solar, which is building a massive plant in Arizona, are the beneficiaries.

Abound Solar also is eligible for a total of more than $12 million in performance-based tax credits and training grants from the Indiana Economic Development Corp. Tipton County leaders in May approved another $13 million in incentives to help lure the then-identified company.

The plant, where transmissions were to be built, has stood empty since 2008. Getrag Manufacturing LLC filed for bankruptcy and halted work on the plant after the company's partnership with Chrysler LLC collapsed. The facility has never been used.

A federal bankruptcy court in Detroit turned the facility over to a trustee group consisting of contractors still owed money on the project.

Abound Solar plans to invest more than $500 million in machinery, equipment and building improvements in Tipton County, the IEDC said Saturday. After renovations begin, the company plans to hire engineers, technicians and production associates.

IEDC said it worked with county leaders, federal lawmakers, state officials and the U.S. Department of Energy to help the company seal the deal.

"State and local representatives from Indiana were particularly instrumental in our efforts to finalize plans for this state-of-the-art facility and create high-paying jobs for Hoosier workers," Abound executive Steve Abely said in a prepared statement.  "We are excited about the opportunity to make America a global driver of renewable, affordable and abundant solar energy."
 

ADVERTISEMENT

  • Criminal charges
    This seems strange to me - there are many articles that say Abound Solar not only is bankrupt but facing criminal charges.
  • Bum deal
    Tipton got a bum deal from the union workers that went on a one-day strike making Chrysler buckle under demands to build the plant there.It's all in the newspapers if you want to spend the effort to look it up.
  • Luxurious
    Its nice to be rich...and this article is quite good and interesting...
    used cars
  • Stick it streetfighter
    For you the glass will always be half empty until a new republican administration is in office. The last one had two terms to get something done, pissed it away, and left us on the brink of ruin. Of course, you will never give credit where credit is due, because you are a bigoted naysayer, with no vision.
  • Great for Tipton
    I feel great for the citizens of Tipton...a great small Indiana town(the kind of town with great character our country needs!) which got a bum deal from Getrag. From a citizen of Fishers, I say congratulations to the people and community of Tipton!
    • B.O. =B.S.
      The fact is that most of our solar panels are made out of the U.S. by companies like G.E. due to lower costs. Now this government, that hasn't been able to fix anything so far is going to underwrite all these solar cells that will take care of our electrical production. Giving it away, it will still cost too much. Billions has been spent on solar research, and where the hell is it at our level? By the time this is viable we could have five or ten nuclear plants functioning. You won't even see a blip of electical energy from solar power from this production. Costs of solar panels has been fixed at $4.50 per kilowatt hour and all the government B.S. and research hasn't brought it down one dime. For a simple water heater they are charging thousnds of dollars. After all, the great dream of B.O. to double production from one percent to two percent in ten years is nothing but pure B.S. By they time they steal all the money they can and misappropriate and just plain lose it, how many jobs are we really going to get? So much B.O. B.S. Much as we want solar to work, it isn't going to take over anytime soon. So Indiana is glad they sucked up some government largesse. Tune in five years from now.
      • Team work
        This great announcement for Indiana and the US as a whole came through President Obama's push for clean energy and Mitch Daniel's business emphasis. Neither could do it alone. Time each party recognize the others contributions.

      Post a comment to this story

      COMMENTS POLICY
      We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
       
      You are legally responsible for what you post and your anonymity is not guaranteed.
       
      Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
       
      No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
       
      We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
       

      Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

      Sponsored by
      ADVERTISEMENT

      facebook - twitter on Facebook & Twitter

      Follow on TwitterFollow IBJ on Facebook:
      Follow on TwitterFollow IBJ's Tweets on these topics:
       
      Subscribe to IBJ
      1. Good Day I am Mr (Victoria Wright) from United state of America, i stayed in NEW YORK, and i have a broke up business, until i found this company email who help me to gain a loan for business,, and now i want to used this short medium to congratulate the below company for the fast and safe money they loan to me without any form of collateral, i loan 500,000USD from the company to save my business and lots more, i saw their mail on the internet, everyone always give testimony for what they did, so i quickly contacted them and they all did everything for me without stress and my money was sent to my account just 3 days later, i was surprise and i feel so glad, now i have a standard business control agent who help me, now i will advice those who need urgent loan to contact him at the bellow email:zenithfirm12@gmail.com

      2. NOTICE:This is to inform the general public that Vampires are real. My name is James Franklyn.,am an agent of vampire,am here to introduce our new world trend to you,a world of vampire where life get easier,we have made so many persons vampires and have turned them rich,you will be assured long life and prosperity,you shall be made to be very sensitive to mental alertness,stronger and also very fast,you will not be restricted to walking at night only even at the very middle of broad day light you will be made to walk.In case you are wildly oppressed by some unscrupulous persons we can still help you fight them.Your protection is assured immediately you join.Just contact the bellow email if you are interested we are here to attend to you anytime you want us. Contact the bellow email for more details. Email:vampirescreed@hotmail.com Sincerely: James Franklyn.

      3. Bravo! Someone else that is willing to speak the truth! Bravo!_____NBCSN is available in almost 2 MILLION more homes than just a few years ago, but Indycar STILL gets less total viewers than it did just a few years ago when NBC took over Versus. Attendance and ratings cratered with the end of season races (just when the title battle got "interesting" HAH!__________And now...new race in Basilia, where Miles celebrated the "rich history" of Indycar racing there. Rich history? What, 7 events in the 100 years of AOW? Yep, some history. Well, at least its an oval. It's not??? Are you kidding me??? Gosh darn road racin furriners.

      4. PURITY RAY LOAN OFFER........ Have you been denied by your banks,or are you in need of of an urgent loan to pay of your bills we are capable of giving loans @ cheaper rate to interested individuals, student, companies and members of the public in need of finance to settle bills, we do offer considerable loans which you can count on. For more information on our various types of loan,then you will have to contact PURITY RAY LOAN FIRM, to help you achieve your desire LOAN APPLICATION FORM TO BE FILLED BORROWERS INFORMATION * Full name:………………………. * SEX * ……………………………. * Country………………………….. * State:……………………………. * Land:…………………………….. * Occupation:…………………….. * phone number:…………………. * Telephone: ………………………….. * Age:………………………………. * Amount needed as loan:……… * Loan Duration:………………….. * Propose of Loan:……………….. * Annual revenue:………………… * Monthly Income:……………….. * Guarantee:………………………. * Payment: monthly or annually Email.....purityrayloanfirm@gmail.com Thank you and God bless Mr Purity Ray PURITY RAY LOAN FIRM we tend to serve you better

      5. Problem: most of the people responding to this article don't know about this service AT ALL! Why? Lack of awareness. This isn't IndyGo. This is CIRTA: might as well be the mattress company because they are asleep at the wheel - something like 3 directors over the last year? Playing with federal grant money is great! This "region" wants commuter rail service, has spent MILLIONS on Transportation studies yet can't even support a commuter bus line? This is largely for suburban riders to get to downtown - not for "service people to work in our hotels and restaurants" ! Get your head out of your backside!! These are professionals, students etc. that don't want to fight traffic, save some money on parking, gas, stress.... if CIRTA would put their federal money into widely promoting the sevive to Greenwood, Fishers & Carmel instead of finding directors and studies - this would be a successful service. Our family uses(d) it daily for the last several years - but the recent uncertainty & now unreliability due to cuts from Carmel has been a problem. Now, costs us an additional $350/month for gas & parking ( $4200/year) plus vehicle wear, service, environmental impact ... YES - this REGION needs this this type of service in order to keep growing and getting the people it needs to fill skilled positions in downtown Indianapolis. Think outside of your own car !!!

      ADVERTISEMENT