By Jason Starr
The Essex Reporter

A new solar energy company headquartered in Albany is focusing on Essex as the site of a manufacturing facility that would employ an estimated 400 people.

Vermont resident and Skypoint Solar Vice President Michael Olsen is working to find the right spot for the company to produce thin-film solar panels for use in large-scale solar power parks.

“We believe the market for solar will increase dramatically in the next three to 10 years, and we want to be there to participate in that market growth,” Olsen said during an interview last week.

The company has studied incentives offered by several states to attract manufacturers, and “Vermont has risen to the top,” Olsen said.

“We’ve been focusing on Essex because it seems to be where most of the industrial property is available,” he said. The company has toured a vacant spot on the IBM campus and a state-owned facility near Allen Martin Drive.

Key to the company’s plans in Essex is approval of its application under Vermont’s Economic Growth Incentive (VEGI). The Vermont Economic Progress Council meets Thursday in Montpelier to discuss Skypoint’s application and decide whether incentives will be offered.

Skypoint is seeking $10.4 million in incentives, the Burlington Free Press reported last week. In order to accommodate that request — and requests from three other companies — the state last week raised the VEGI cap from $10 to $23 million.

Olsen said securing the VEGI incentives is critical to Skypoint’s consideration of Vermont.

The VEGI incentives offer a tax break that is dependent on the creation of jobs. The tax reduction comes a year after the jobs are created, Olsen said.

“I like it because it’s not a corporate handout,” he said. “It’s a true incentive. There are some states out there that will simply hand out cash.”

State Rep. Tim Jerman of Essex Junction, who is sponsoring a bill to facilitate solar power generation on dairy farms, is excited about the possibility of Skypoint Solar locating in Essex. He favored raising the VEGI cap to accommodate the company’s request.

Although boosting the incentives results in new government spending, the fact they are tied to the performance of the company in creating jobs appeals to Jerman.

In an interview with Vermont Public Radio, Skypoint Chief Executive Officer John Tuttle said the company would hire 100 people in its first year and add up to 300 more as production ramps up.