No company has a larger pending contract with the DCOA than Broadwind, according to DCOA documents; the second largest contract with a private company is with plastics manufacturer PWP Industries, which was acquired earlier this year by Pactiv Corp.
No company has a larger pending contract with the DCOA than Broadwind, according to DCOA documents; the second largest contract with a private company is with plastics manufacturer PWP Industries, which was acquired earlier this year by Pactiv Corp.
Wind company Broadwind Energy again could receive financial assistance from the Development Corporation of Abilene. Today the board will consider offering a zero-interest loan up to $700,000 to the Illinois-based company’s Energy Maintenance Service division.
The company plans to develop wind turbine gearbox repair operations that the DCOA states could result in nine new jobs. The proposal also would add up to $202,500 in job-creation incentives.
“Broadwind believes it will be the first independent supplier of wind energy products and services to offer enhanced megawatt gearbox repair and refurbishment capabilities in North America,” according to a DCOA description of the proposal released before today’s 1:30 p.m. meeting on the …
... more [truncated due to possible copyright]Wind company Broadwind Energy again could receive financial assistance from the Development Corporation of Abilene. Today the board will consider offering a zero-interest loan up to $700,000 to the Illinois-based company’s Energy Maintenance Service division.
The company plans to develop wind turbine gearbox repair operations that the DCOA states could result in nine new jobs. The proposal also would add up to $202,500 in job-creation incentives.
“Broadwind believes it will be the first independent supplier of wind energy products and services to offer enhanced megawatt gearbox repair and refurbishment capabilities in North America,” according to a DCOA description of the proposal released before today’s 1:30 p.m. meeting on the third floor at 174 Cypress St.
Broadwind has been approved to receive up to approximately $4.7 million in DCOA money for its Tower Tech manufacturing plant, which employed about 70 workers earlier this year. The DCOA also has previously approved about $1.4 million in financial assistance to Energy Maintenance Services, which employed about 35 employees earlier this year.
No company has a larger pending contract with the DCOA than Broadwind, according to DCOA documents; the second largest contract with a private company is with plastics manufacturer PWP Industries, which was acquired earlier this year by Pactiv Corp. The DCOA approved assistance of up to $4.3 million in 2007. That plant employs about 80 workers and 20 temporary workers, according to Pactiv.
Energy Maintenance Service repairs wind turbine blades at the former Lockheed Martin facility in western Abilene. Earlier this year Broadwind announced plans to develop a gearbox maintenance facility, likely in Abilene. The loan, if approved by the five-person DCOA board, would be paid out over five years and represent about 10 percent of an expected $7 million capital investment by Broadwind.
Staff for the DCOA, which includes Assistant City Manager Richard Burdine, are recommending the assistance agreement be approved.
According to the DCOA, each of the nine jobs would pay more than $30,000 annually, including benefits. Five of the jobs would pay more than $50,000.