WindStream Technologies, Inc., a manufacturer of wind energy technology announced that it will site a new development and production facility here, creating more than 260 new jobs by 2012.
The company, which manufactures small scale wind turbines called TurboMills, will invest several million dollars to establish its newest operations at the Purdue Technology Center in the Purdue Research Park of Southeast Indiana.
"WindStream Technologies represents yet another win for Indiana's growing renewable energy economy," said Governor Mitch Daniels. "We know the partnership created by WindStream and Purdue Research Park will result in new high-growth opportunities for Hoosiers."
The startup, currently operating out of Manhattan Beach, Calif., plans to begin hiring assembly and distribution associates and professional staff as facility and equipment upgrades are made at the site.
"We are very excited about the opportunity of locating our operations in New Albany and the support that Indiana has pledged to the company. It was clear from our first discussions that Indiana is looking to become a leader in the green economy and WindStream is proud to be a part of that positive effort," said Dan Bates, president and chief executive officer of WindStream.
WindStream's TurboMills are designed to capture wind energy in urban settings. The devices are engineered to be an efficient, low-cost option used to supplement a customer's energy needs, reducing electricity cost and carbon footprint.
"Companies such as WindStream Technologies fit in well with the environment of the Purdue Research Park network," said Joseph B. Hornett, senior vice president, treasurer and chief operating officer of the Purdue Research Foundation. "WindStream Technologies is the second company to move from another state into the Purdue Research Park of Southeast Indiana, which shows that the state of Indiana is a highly coveted location for businesses to prosper."
The Indiana Economic Development Corporation offered WindStream Technologies up to $1.5 million in performance-based tax credits and up to $84,500 in training grants based on the company's job creation plans. The city of New Albany will provide additional funding for facility improvements and equipment purchases at the request of One Southern Indiana.
"We are excited about these jobs and very proud to welcome WindStream Technologies as our newest corporate citizen," said Mayor Doug England. "Attracting a cutting edge company such as this to New Albany is evidence that the Purdue Research Park of Southeast Indiana will play a critical role in this region's future economic prosperity."
WindStream's announced expansion in New Albany comes only two weeks after Kemper Foods announced it would invest more than $6.8 million to expand its food production facility here, creating more than 350 new jobs by 2012.
About Windstream Technologies
WindStream Technologies is a developer of small scale wind turbines for the micro wind power market. The company, based in Manhattan Beach, Calif., has created technologies and manufacturing processes for the development and assembly of small scale wind turbines to capture wind energy in urban settings. Captured energy is used to supplement the energy requirement of low-power systems and equipment.
About Purdue Research Park
The 725-acre Purdue Research Park (http://www.purdueresearchpark.com) has the largest university-affiliated business incubation complex in the country. The park is home to more than 160 companies. About 100 of these firms are technology-related and another 39 are incubator businesses. The park is owned and managed by the Purdue Research Foundation. In addition to the Purdue Research Park in West Lafayette, the foundation has established technology parks in other locations around Indiana including Indianapolis, Merrillville and New Albany.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov