Official: Mass. To Recoup $13M From Evergreen Solar Inc.
BOSTON (AP) -- Massachusetts is expecting to recoup about $13 million from the abrupt shutdown of a solar panel manufacturer that received tens of millions in state aid.
Economic Development Secretary Greg Bialecki said the $13 million includes benefits the state offered Evergreen Solar to encourage it to build its manufacturing plant in Devens.
One benefit required the company to employ a certain number of workers over a specified number of years. The company fell short of that goal. Bialecki said the state also will recover money now that the company's dollar-a-year lease will be revoked.
Bialecki said the state directly invested $31 million to the company, less than the reported $58 million.
Evergreen announced last week it was closing its Devens plant by the end of the 2011 first quarter as it moves its manufacturing to China.
House Speaker Robert DeLeo wants to speak with Gov. Deval Patrick about the closing and the House Republican leader is calling for an investigation.
Evergreen CEO Michael El-Hillow said dropping prices and competition from heavily subsidized solar manufacturers in China made the plant "no longer economically feasible."
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