Globe Specialty Metals, Inc., a leader in manufacturing the silicon that is used to create solar panels, will reopen and expand its facilities in Niagara Falls. To assist Globe, Empire State Development and New York Power Authority formed a team, creating an incentive package that provides the company with 40 MW of hydropower over five years and up to $25,000,000 in Empire Zone benefits for up to 10 years. The company will provide a capital investment of $60 million.
Congresswoman Louise M. Slaughter said, “The New York Power Authority’s decision will allow Globe Specialty Metals to reopen its Niagara Falls factory, inject millions into our slumping manufacturing industry, and create 500 badly-needed new jobs. I was pleased to work with the Power Authority on behalf of Globe and applaud their prudent decision that will open the doors to a much-needed jump start for our regional economy.”
Globe will re-open an existing silicon production facility in Niagara Falls and invest in upgrading the equipment to produce approximately 30,000 tons of metallurgical grade silicon annually. In addition, it will build a new 100,000-plus-square-foot facility in Niagara Falls to annually convert their metallurgical grade silicon into 4,000 tons of Solar Grade silicon – enough to produce 500MW of solar power.
As part of their agreement with the state, 25 percent of Globe’s Upgraded Metallurgical Grade Silicon (UMG-Si) production from their new Niagara Falls facility will be used to attract new solar panel manufacturers to New York State, thus seeding the development of the “Green Collar” industry in Western New York. This provides a foundation for New York to become a leader in the solar use and production industry.