Mississippi lawmakers approved a $75 million bond bill in one of the first acts Tuesday in the opening session of the Legislature and sent it to the governor.
The bill authorizes the Mississippi Industry Incentive Financing Revolving Fund to sell the debt as a loan to lure Stion, a venture-backed manufacturer of high-efficiency, low-cost solar panels, to Hattiesburg.
The production line of the 100-megawatt solar panel facility is the first phase of Stion’s $500 million investment that will create a projected 1,000 new jobs over the next six years.
The company, which will produce thin-film solar panels, advances the goal of bringing clean-energy business to the state, said Gov. Haley Barbour.
Stion will use its proprietary material and process expertise to produce its high-efficiency, thin-film solar panels that are designed for use in all major applications, including commercial, government, residential, and utility projects.
Various incentives are being offered by the state, Forrest County, and Hattiesburg to support the 300,000-square-foot manufacturing facility. In addition to the bonds, the state is providing clean-energy tax and workforce training incentives for the project. Local officials provided tax and other financial incentives.
Founded in 2006, Stion currently produces its high-efficiency, low-cost solar panels in San Jose, Calif., where the company is headquartered.
