Welcome to Thomas Insights — every day, we publish the latest news and analysis to keep our readers up to date on what’s happening in industry. Sign up here to get the day’s top stories delivered straight to your inbox.
A California solar energy firm plans to establish a facility to produce solar-powered charging stations for electric vehicles, state officials announced.
Infinity Energy will receive a $2.5 million state tax credit for the proposed charging station factory in Fresno, according to the Governor’s Office of Business and Economic Development.
The project is expected to create 209 full-time jobs by 2025.
Infinity, headquartered near Sacramento, provides solar power systems to homeowners and commercial facilities. The Fresno Business Journal reports that the company plans to invest $11 million in its Fresno operations to begin making vehicle charging stations.
The company currently has 361 employees. Under its agreement with the state, about 75% of the newly hired employees will spend at least three-quarters of their time in Fresno.
The announcement was part of $150 million in credits allocated under the California Competes Tax Credit program, which was formed in 2013 to encourage California businesses to remain and grow in the state. The tax credits are expected to generate $1.2 billion in new investment and create more than 7,600 jobs, officials said.
“California Competes is an important program that attracts and retains employers, who in turn create good-paying jobs and economic opportunity for California workers,” Dee Dee Myers, the senior advisor to the California Governor and director of GO-Biz., said in a statement. “These tax credits will incentivize the creation of thousands of new, quality, full-time jobs and much-needed investment across our state.”
Image Credit: nrqemi / Shutterstock.com
Next Story »
More from Business & Industry
Source: https://www.thomasnet.com/insights/california-solar-energy-firm-to-open-11-million-factory/