Welcome to Thomas Insights — every day, we publish the latest news and analysis to keep our readers up to date on what’s happening in industry. Sign up here to get the day’s top stories delivered straight to your inbox.
Solar roofing provider and Standard Industries subsidiary GAF Energy announced it began construction on a manufacturing facility in Georgetown, Texas. The 450,000-square-foot factory is scheduled to be finished next June.
GAF Energy, a sister company of roofing manufacturer GAF, expects to create 265 jobs over the next decade. The project’s total capital investment is projected to exceed $100 million.
The location, GAF Energy’s second manufacturing center in the U.S., will produce Timberline Solar™, a nailable solar shingle.
Local jurisdictions will provide GAF Energy with a combined incentive package of more than $3.24 million. The majority of the package comes from a Georgetown property tax abatement, which covers 10 years of 50% for real property and 75% for business personal property.
“We believed more consumers would choose solar if they had a more reliable, durable, and attractive option,” GAF Energy President Martin DeBono said.
Georgetown Mayor Josh Schroeder commended the development and said GAF Energy’s product “will change the market as we know it.” Georgetown’s net economic influence in the next 10 years is expected to be $3.75 million.
Image Credit: NavinTar / Shutterstock.com
