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Bernalillo County approves tax break for solar cell manufacturing company [Yahoo! Finance]
Last ge aerospace earnings: 4/30 04:02 pm
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The company is planning a facility at Mesa del Sol, which should create 911 jobs by December 2033. The average salary for those jobs will be $80,149, according to the company's industrial revenue bond application. Ebon Solar is headquartered in Singapore and has subsidiaries in the Americas, Asia and Australia. Commissioners approved up to $942 million in industrial revenue bonds for Ebon Solar. Industrial revenue bonds are used to incentivize development by offering tax exemptions on the purchase of land, building or equipment. Bernalillo County has previously used the economic tool to incentivize the development of Sawmill Market and Sandia Peak Ski Co. Ebon Solar's industrial revenue bonds have a 30-year term with 80% tax abatement on real property and a 20% payment in lieu of taxes required. The IRB also offers a 100% tax abatement on personal property. Ebon Solar has agreed to finance public infrastructure within the Tax Increment Development District and Public Improvemen
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