“The Arizona Commerce Authority has offered a $10 million grant and other incentives to Apple to bring a high-tech manufacturing plant to a Mesa site, according documents released Tuesday,” Peter Corbett reports for The Arizona Republic. “The agreement for what is being called Project Cascade would create an estimated 1,300 construction jobs over two years and at least 700 full-time manufacturing jobs with an average wage not less than $45,000. Apple’s capital investment would total more than $1.5 billion, the authority said.”
“Apple’s business partner, GT Advanced Technologies, announced earlier this month that it would be setting up a plant in the former First Solar Inc. factory in east Mesa,” Corbett reports. “Apple bought the building for $113 million and will lease it to GT Advanced Technologies, a company based in New Hampshire that makes specialty glass for Apple products.”
“The Arizona Commerce Authority said that a third-party economic study estimated that Apple’s investment will generate more $102 million in tax revenue over five years. Project Cascade would also include development of at least one ‘solar farm’ to generate electricity at locations throughout Arizona,” Corbett reports. “The First Solar plant, which never opened, will have to be retrofitted for use by GT Advanced Technologies. The 1.3 million square-foot plant is southwest of Elliott and Signal Butte roads.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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