Announcement - July 2009
GreenField Solar Corp. (GreenField) announced they will create 200 new jobs in Ohio by 2012. The company will create 120 manufacturing positions in the City of North Ridgeville, and 80 laboratory and professional positions at the new Corporate Headquarters in the City of Oberlin. The strengths of a partnership at all levels kept Greenfield Solar Corp. in Lorain County. Here’s the story…
Fall 2008
Team Lorain County (TLC) is contacted by a local brokerage firm whose client is looking to expand their existing facilities in North Ridgeville and commercialize their product. The company is trying to identify financial incentives and available properties that will meet their growth needs. The company is considering locations outside of Ohio because of the lack of clean room space in Ohio and because they have not been awarded any funds through Third Frontier applications.
TLC met with GreenField representatives to learn more about their product and their facility needs. TLC coordinates with Lorain County, Ohio Department of Development (ODOD) and the City of North Ridgeville to identify potential funding sources and determine if funds may be available to construct a new road at their existing facility. TLC works with its local partners to identify lab space that may be a good fit for this company. TLC and the company tour the former Bayer facility in the City of Oberlin and the company representatives feel there is potential at this site.
Winter 2008/2009
ODOD makes a preliminary offer for financial incentives including a Rapid Outreach Grant, Job Creation Tax Credit, 629 Roadwork Development Account and Workforce Guarantee Grant. TLC and ODOD work with company CFO to complete state’s financial assistance on-line application to bring project before the board. TLC works with the Cities of North Ridgeville and Oberlin to determine how they will structure the required local match.
TLC and local partners work together to present an attractive package for lease terms, tax credits and the company’s request to make stock options tax exempt. TLC and company representatives continue to work on completing on-line application and revise projections due to economic conditions. The State reissues a commitment offer based on new information. GreenField representatives begin to determine what improvements will need to be made to the facility in Oberlin and work with local partners to determine if any funding assistance is available.
Spring 2009
The City of Oberlin and the City of North Ridgeville pass legislation allowing the company’s stock options to be tax exempt when they are exercised. The City of North Ridgeville accepts the State’s 629 Roadwork Development funds and commits to building a new roadway to serve the company’s proposed facility in North Ridgeville.
GreenField is announced as one of the winners of the 2009 NorTech Innovation Awards. GreenField submitted their state financial assistance application.
Summer 2009
TLC and its local partners submit letters of support on behalf of GreenField to ODOD, Governor’s Office, and Ohio Air Quality Development Authority. GreenField is scheduled for a hearing before the Tax Credit Authority on July 27, 2009. The Board approved the application and confirmed financial assistance valued at over $1 million for their proposed projects in the City of Oberlin and the City of North Ridgeville.
Summer 2010
TLC, the Lorain County Growth Partnership, City of Oberlin and City of N. Ridgeville were awarded the Team NEO Economic Development Plus Award in the Business Attraction category for this project.
GreenField Solar Corp. is an Ohio based developer and manufacturer of concentrating photovoltaic systems or CPV. CPV systems are a promising approach for lowering PV power costs. GreenField was formed in October 2008 as a result of a combination between PhotoVolt, Inc. and GreenField.
