SHAHEEN ANNOUNCES MORE THAN $2 MILLION IN TAX CREDITS FOR HUDSON CLEAN ENERGY MANUFACTURING COMPANYJanuary 08, 2010
(Washington, D.C.)-U.S. Senator Jeanne Shaheen today announced that Spire Semiconductor, LLC of Hudson has been awarded $2,044,500 in Advanced Energy Manufacturing Tax Credits to manufacture components that will be used by the nation's growing solar energy industry. The tax credits for Spire, and other manufacturers across the nation, were announced by President Obama today and are made available through the American Recovery and Reinvestment Act (ARRA), which Shaheen supported. These tax credits are helping to put Americans back to work by building a robust domestic manufacturing sector to supply clean energy projects with American made parts and equipment.
"The clean energy economy is one of our greatest opportunities to create jobs, and supporting manufacturing is an essential way to stimulate this critical component of our economic future," said Shaheen. "This investment will create jobs and help our country become a world leader in clean energy technologies. Investing in innovative companies like Spire Semiconductor is an important step toward building a stable economic future that meets our energy and national security needs."
These tax credits will allow Spire Semiconductor to manufacture components for highly efficient Concentrator Photovoltaic (CPV) systems that will be used by the nation's growing solar energy industry. The CPV technology that Spire Semiconductor has been developing is nearly twice as efficient as traditional photovoltaic technology.
"Spire is grateful to participate in the clean energy manufacturing tax credit program," said Rodger Lafavre, Chief Operating Officer of Spire Corporation. "This award displays the strong support for our highly efficient Concentrator Photovoltaic technology, and this will help us continue down the path of commercialization of our CPV technology."
This effort, along with other Recovery Act investments, is helping to drive significant growth in the renewable energy and clean technology manufacturing sectors and give the United States the ability to lead globally in these markets. The investment tax credits, worth up to thirty percent of each planned project, will leverage private capital for a total investment of nearly $7.7 billion in high-tech manufacturing in the United States.
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