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March 4, 2008 -- An international manufacturer of solar energy equipment plans to turn a plot of desert real estate into its North American hub for production, giving New Mexico officials hope that the state can become a player in the renewable energy industry.
Gov. Bill Richardson, a former energy secretary, called the venture historic. He said efforts by the state and local governments to offer incentives to attract high-tech companies to New Mexico paid off with Schott's decision to build a plant in Albuquerque. Schott AG of Mainz, Germany, said the plant will produce both photovoltaic panels and receivers for solar thermal power plants. Initial plans call for a 200,000-square-foot facility that will employ about 350 people. Company officials expect production to begin in spring 2009. Schott's initial investment will be $100 million. That's expected to grow to $500 million over the next few years. Schott estimates long-term economic development stemming from the plant could reach more than $1 billion.
Source: AMT
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