(To read more on the industrial market, click here.)

FAIRLESS HILLS, PA-With $10 million in state incentives, Gamesa Corp., the second-largest producer of wind power in the world, will invest $34 million to build three manufacturing facilities here. In 2004, the Victoria, Spain-based company invested an aggregate of $40 million in Pennsylvania with construction of a 194,000-sf factory in Ebensburg in Cambria County and establishment of its US headquarters at One Broad St., in Center City Philadelphia.

The new Bucks County plants here will be located on a 20-acre former US Steel plant site. The state’s department of community and economic development and Bucks County Economic Development Corp. assembled the incentive package, including grants, loans and tax credits. The land, within the 1,298-acre industrial park, is classified as a Keystone Opportunity Improvement Zone. Designed to encourage brownfield development, KOIZ offers tax-free status through 2018. The state previously provided Gamesa with $9.3 million for the Ebensburg facility.

Gamesa’s new construction investment includes: a $12-million blade manufacturing facility; a $7-million plant for making towers; and a $15-million assembly facility. All three are scheduled to be operational this summer. Gamesa president Alfonso Basagoiti calls it “an ambitious industrial plan that reinforces our long-term commitment to the US wind-energy market,” which he says is a priority market for the company.

According to Basagoiti, Gamesa signed contracts for more than 669 megawatts of wind production in the US during 2004 and 2005. The additional facilities will have an annual production capacity of 1,000 megawatts, enough to power more than 300,000 homes.

Gov. Ed Rendell’s action team spearheaded bringing Gamesa to Pennsylvania. “Not only are we focused on job creation, making sure our businesses remain competitive in world markets, but we are also supporting the development of alternative energy sources while helping to return abandoned industrial sites to productive use,” he says in a statement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.