Energy Composites Corp. (ECC), a designer and manufacturer of composite structures for the wind industry, will develop an advanced wind blade facility in Wisconsin Rapids, Wis.
The city of Wisconsin Rapids has agreed to sell a 39-acre parcel and a 54-acre parcel in the Rapids East Commerce Center to ECC for $500/acre for the development of a utility-scale wind blade production facility and associated logistics center.
The agreement provides for at least $7.5 million in development incentives from the city, including site improvements, job-creation cash credits and additional cash payments. The minimum incentive threshold was calculated based on ECC's original plans for a facility that would produce enough blades to equip wind energy systems producing 750 MW of power per year, the company says.
ECC anticipates that the final level of developers incentives from the city will grow significantly as the size of the total tax increment grows. Closing on the land acquisition is expected before the end of December.
SOURCE: Energy Composites Corp.