Boviet Solar, a global renewable energy company, will create 908 new jobs in Pitt County. The company will invest more than $294 million to locate its first North American solar panel manufacturing facility in the City of Greenville.
“It’s great to welcome Boviet Solar to North Carolina,” said Governor Cooper. “This decision has proven yet again that North Carolina is a hub for clean energy, offering advanced manufacturers a skilled workforce, an excellent quality of life, and affordable communities to support its work in sustainability.”
Founded in Vietnam, Boviet Solar is a Tier 1 solar technology manufacturer of high-quality solar panels and photovoltaic cells. The company is a leader in solar project development with commercial, industrial, and residential customers in the U.S. The new facility in Pitt County will increase the company’s global capacity to produce high-end solar panels and PV modules in a 1-million-square foot advanced manufacturing facility.
“Our dreams of producing our PV modules in the U.S. finally come to realization. We are proud of bringing our manufacturing excellence to our most important solar market, creating jobs, and making a positive impact on North Carolina’s economy. We are committed to expanding solar as a widely used renewable energy source in the U.S. and delivering locally made, top-performing PV modules to accelerate the advent of the global renewable revolution,” said Jimmy Xie, General Manager of Boviet Solar.
New positions being created by the company will range from engineers and production workers to administrative and management personnel with annual wages exceeding the Pitt County average salary of $50,937.
“Since last year, our team has worked extremely hard with our partners at Pitt County and City of Greenville along with Boviet representatives and federal and state agencies to get this project to the finish line. Thanks to the work of many, a recently vacated building has been brought back to life and will soon be humming with production once again,” said Josh Lewis, President and CEO of the Greenville ENC Alliance. “The substantial capital investment and annual wages that this project will inject into the economy will ensure continued economic vibrancy in Greenville-Pitt County in the years ahead.”
Boviet Solar’s project will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $2.9 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $8,279,000 spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
The project’s projected return on investment of public dollars is 47 percent, meaning for every dollar of potential cost to the state, the state receives $1.47 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
Key partners in the project include the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, North Carolina Community College System, Golden LEAF Foundation, Greenville ENC Alliance, Pitt County, ElectriCities of North Carolina, Greenville Utilities Commission, and City of Greenville.
“The professionalism, dedication, and enthusiasm of the staff from EDPNC, Greenville ENC Alliance, Pitt County, GUC, and City of Greenville provide huge support the project and that leads us to believe we will be part of the local economic development,” added Mr. Xie. “And of course, Greenville's name hints at promising prospects for the renewable energy industry."
The production facility’s official opening is scheduled for early 2025. Click here to learn more.
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This article was adapted from a North Carolina Dept. of Commerce press release.
Media Relations Contact:
Maria Satira
Director of Marketing and Communications
Greenville Eastern North Carolina Alliance
satira@encalliance.com
252-414-2875
