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Senator Mark Wagoner (R-Toledo) announced Monday that the state approved $5.5 million for the planned expansion of Willard & Kelsey Solar Group, LLC, located in Perrysburg. Specifically, the company is slated to receive a $5 million research and development investment fund loan and a $500,000 Rapid Outreach Grant to assist with the purchase of new machinery. This state support will enable the company to create 400 new full-time jobs.
“At a time when the loss of jobs is making headlines all around Ohio and the nation, W&K’s planned growth and the creation of hundreds of new positions is exactly the type of news our region of the state needs right now,” Wagoner said. “I applaud the state for their efforts and I am hopeful that we will be able to find additional investment opportunities that grow jobs and strengthen our economy.”
Founded in 2007, W&K manufactures thin-cell solar panels that are distributed throughout the world. A new technology developed by the company helps to reduce the overall costs associated with the production of these panels. Additionally, the new process is also expected to increase the solar panels’ efficiency by up to 20 percent.
In addition to the loan and grant being approved by the Controlling Board today, W&K has also been approved for a 10 year, 60 percent job creation tax credit by the Tax Credit Authority.
