“Multi-crystalline panels are silicone coated with glass,” Chief Executive Officer James B. Mann said. “It’s just a 21st century version of glass manufacturing, so what better site than Millville?”
Plans to build here are “fairly advanced,” but a specific site has not been chosen, he said. “We’re moving toward a ribbon-cutting over the next few weeks,” Mann said.
In June 2009, the New Jersey Economic Development Board approved a Business Employment Incentive Program grant to IPPSolar. The grant would be worth $2,397,200 over a 10-year period.
A two-page project summary of IPPSolar’s proposal, which the EDA made available, lists a property at 401 S. 3rd St. here as the “project location.”
That property’s owner is the Paul M. Harris Sr. Revocable Living Trust. It was a warehouse for the Ball Foster Glass Container factory on South 2nd Street until 2006.
However, Mann confirmed that his company has no contract on the Harris property, has not made a written offer nor made a down payment. A company official has approached the owner, he said.
“We’ve looked at other sites,” Mann added.
Property owner and Millville businessman Paul Harris declined comment.
The financing model for the venture calls for significant government aid at the local, state and federal levels. That includes federal “stimulus” money.
“Today, the application is due for a federal tax credit for renewable energy manufacturing facilities,” Mann said. “We’re applying for a $20 million tax credit. These are significant funds.”
EDA Public Affairs Director Nicole Royal said the state contacted IPPSolar PV in the spring “after getting a lead that the company might be interested in relocating” from New York. The state met with the firm to discuss possible incentives for relocating.
The grant approved in June 2009 is based on the income taxes new jobs would create. The money is not disbursed until after the jobs are created. The plant is projected to generate $2,996,500 in gross state income tax over 10 years.
Mann said his company looked at sites in 12 states, all of which have federal empowerment zones. “New Jersey is currently the most supportive state for solar in the United States,” he said.
