STREAMING NOW: Watch Now

State-subsidized solar panel maker to close in Mississippi

A green energy company heavily incentivized by Mississippi is shutting down, raising questions about whether the state will get repaid.

Posted: Oct 21, 2017 8:03 AM
Updated: Oct 21, 2017 8:03 AM

JACKSON, Miss. (AP) - A green energy company heavily incentivized by Mississippi is shutting down, raising questions about whether the state will get repaid.

Solar panel maker Stion notified the state Tuesday that it would close its Hattiesburg plant Dec. 13, laying off 137 employees.

The company tells the Mississippi Department of Employment Security that it was closing "due to intense and unfair competition from foreign manufacturers." Stion says it will maintain the factory in hopes of selling it to a new manufacturer.

It's the fourth green energy deal made by former Gov. Haley Barbour to flop.

Stion pledged 1,000 jobs when it announced its plans in 2011.

Mississippi initially loaned Stion $74.8 million, and governments have given millions more in other tax breaks and subsidies.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Article Comments

Tupelo
Clear
64° wxIcon
Hi: 67° Lo: 50°
Feels Like: 64°
Columbus
Clear
60° wxIcon
Hi: 65° Lo: 52°
Feels Like: 60°
Oxford
Clear
61° wxIcon
Hi: 71° Lo: 45°
Feels Like: 61°
Starkville
Clear
59° wxIcon
Hi: 63° Lo: 47°
Feels Like: 59°
WTVA Radar
WTVA Temperatures
WTVA Severe Weather