Let’s hear it for the ripple effect.
Nexolon America, a consortium partner with OCI Solar Power on the 400 MW deal with CPS Energy, showed off the construction underway at Brooks City Base last month for its solar module manufacturing plant.
The plant will employ 400 people; 40 have already been hired by Nexolon America for its corporate office, which is now located in San Antonio. All together, the partners have committed to creating 800 jobs.
But the potential for job growth goes far beyond that 800.
Nexolon, OCI Solar and other partners will host a “supplier fair” on July 23. The consortium needs to contract with a wide array of local companies, for services as diverse as landscaping, soil testing, security, poles and wires maintenance, IT support, warehouse supply, laundry services, solid waste removal, recycling companies, plastics, steel manufacturers, and many, many more.
That’s why, using the same method the city of San Antonio and the Economic Development Foundation use to calculate direct and indirect economic development impacts, CPS Energy projects an almost $700 million economic impact by the time the plant is built and running at production capacity.
Just calculating the impact of the jobs created to date reveals a $137 million ripple effect to the local economy.
We’ll take it.