Feb 11 2010
Capitalizing on a new legislation signed by Wisconsin Governor Jim Doyle into a law, which allows Energy Composites Corporation access to the $238 million municipal tax-free bonding authority, the company is moving ahead with its development of a wind blade producing plant in Wisconsin Rapids, Wisconsin. Federal American Recovery and Reinvestment Act, which is also known as Stimulus Bill, has created the Recovery Zone Facility pool.
CEO of Energy Composites, Sam Fairchild, said that for the development of the wind blade plant, financing through conventional industrial development financing programs is inadequate and tax-free bonds are a vital part in the company’s financing plan for the new facility. Sam Fairchild was grateful to senators and legislators who championed for the enactment of the legislation.
When the 535,000 square foot plant is completed, it will be the most advanced facility in North America. Blades with length up to 65 meters can be manufactured in the new plant and can be used for both offshore as well as onshore applications. With production design flexibility, the plant will have greater level of input control. Employees who have passed ECC’s blade fabrication curriculum will form a major portion of the 600 employees in the plant.
Jamie Mancl, ECC’s founder and President, thanked the Wisconsin Rapids officials and Wisconsin Legislature for their efforts to pass this legislature. Adrian Williams, head of ECC’s WindFiber(TM) Division expected the year 2011 will see more development in offshore sector and said that the company will take advantage with its capability to produce blades up to 65 meters in length.
Source: www.energycompositescorp.com