Senatobia, MS – April 6, 2010 – (RealEstateRama) — Governor Haley Barbour announced today that Twin Creeks Technologies, a venture-backed solar technology company, is locating a solar panel manufacturing facility in Senatobia, Miss. The production facility will create 512 jobs, in two phases, over the next five years and represents a company investment of more than $175 million.
“I am delighted Twin Creeks Technologies selected Senatobia, Mississippi, for its new solar panel production facility,” Governor Haley Barbour said. “This facility will be the first renewable solar technology production plant in the state, and I commend this innovative start-up company for its commitment to doing business in the state and for creating over 500 jobs for the residents of Mississippi.”
Twin Creeks was founded in 2008. Headquartered in San Jose, Calif., the company today has engineering and manufacturing locations in Boston and San Jose and a portfolio of over 50 patents. Twin Creeks’ innovative manufacturing processes are changing the economics of crystalline silicon photovoltaic technology.
The new Senatobia facility will use the company’s proprietary technology to produce photovoltaic solar panels. The new facility will be 250,000 square feet, when complete.
“Twin Creeks Technologies is thrilled to announce our first 100-megawatt production facility in Senatobia, Mississippi,” said Siva Sivaram, chairman and chief executive officer of Twin Creeks. “The State of Mississippi and the Governor’s office have been extremely helpful in driving the agreement to closure in record time. We look forward to rapidly breaking ground on our first manufacturing site, becoming an active member of the local community and ramping to full production very quickly.”
The State of Mississippi provided loan assistance totaling $50 million through the Mississippi Major Economic Impact Authority for this project. In addition, the State and the City of Senatobia will provide $4 million for infrastructure improvements at the site.
“Twin Creeks has received substantial support from some of the most respected high-tech investors in the world. This group has been instrumental in launching a number of highly successful Silicon Valley ventures,” said Gray Swoope, executive director of the Mississippi Development Authority. “In looking for the right site and the highly-skilled workforce needed to produce these state-of-the-art solar panels, Twin Creeks considered locations around the globe for its new production facility and found what it was looking for here in Mississippi.”
“Twin Creeks was the first major economic development project to utilize Mississippi’s new clean energy incentives program, which will open the door for new job opportunities in the clean energy sector for all Mississippians,” Swoope said.
About Mississippi Development Authority
Mississippi Development Authority is the State of Mississippi’s lead economic and community development agency. Nearly 300 employees are engaged in providing services to businesses, communities and workers in the state. While the agency is best known for its efforts to recruit new businesses to Mississippi, the Authority provides services to promote tourism, help communities improve their quality of place, help existing employers identify and meet opportunities and challenges and help workers improve their skills – all with the goal of improving the quality of life and economic well-being of Mississippians. For more information, visit MDA’s Web site at www.mississippi.org.
Sally Williams, Public Relations Bureau Manager 601.359.3449