By Eileen Buckley
Niagara Falls, NY – Governor Paterson was in Niagara Falls to cut the ribbon on the reopening of Globe Speciality Metals.
In phase one of its reopening, the company plans to invest 27-million dollars to initially create 138 new jobs. But phase two could generate 500-new jobs.
Globe Speciality Metals is a silicon manufacturer. The company has restarted to furnaces and upgraded equipment. Phase two will allow for production of solar power shields.
The New York Power Authority is offering 40-mega watts of power and Empire State Development is investing $25 million. Globe will in turn allow ESD to offer solar cell manufacturers up to 25% of Globe's upgraded metallurgical grade silicon at a reduced price as an incentive to local business to Western New York.
Niagara Falls Mayor Paul Dyster says this is big economic boost to his city.
"This is a great opportunity to take people who have been on the sidelines in the economic gain and putting them back into the starting lineup, by developing the skills they need that are going to fuel 21st century economic growth," said Dyster.
Globe will use a significant portion of its capital investment to modernize and improve emission controls equipment. Globe is working to improve te appearance of the facility by demolishing old structures and removing unnecessary equipment.