PHOENIX - Power-One Inc., the nation's largest manufacturer of renewable-energy conversion devices, announced Thursday that it will open a manufacturing facility in Phoenix.
The Camarillo, Calif.-based company said the facility will create 350 jobs, with production beginning in October and full capacity reached by mid-2011.
At a news conference announcing the plant, Gov. Jan Brewer credited the Renewable Energy Tax-Incentive program she signed into law with attracting the company and "quality jobs," and said Power-One brings significant investments that will bolster the Arizona economy.
The Renewable Energy Tax-Incentive program is intended to support alternative-energy production and lure international business. It offers income and property tax incentives for new or expanding renewable-energy companies that increase with the level of capital investment.
Power-One is the sixth renewable-energy company to move to Phoenix since the incentives became law in January. The company will also be one of the largest employers of the renewable-energy companies in the Phoenix Valley.
"The Phoenix site is key to our continued growth," said Richard Thompson, president and CEO of Power-One. "We see huge growth opportunities in the Southwest."
The new 120,000-square foot facility in Phoenix will manufacture devices that covert electricity from solar panels and wind turbines for residential, commercial and utility-grade use.
The company booked a record $215 million net sales for the second quarter, more than doubling its sales from the same period last year.
"We are putting a lot of capacity into growing this market because we think the North American market is getting ready to take off," said Neil Dial, senior vice president of worldwide operations for Power-One.
The creation of 350 new jobs here in the U.S. reverses the trend of sending manufacturing jobs overseas, Dial said.
"These are big systems, so we like to build these products in the market they will be used in," Dial said. "We expect this factory will service our U.S. market."
The company recently opened a Canadian plant and expanded another in Europe. The company plans to begin production in China later this year.