Iowa Extends TPI’s Job-Creation; Sioux City Has Eyes Set On Creation Of 500 Jobs

TPI Composites, a wind blade manufacturer based in Arizona, has been given more time to reach its ultimate goal of bringing 504 jobs to its wind blade factory in Newton, Iowa.
In May, TPI cut its Newton staff from 470 to 233, blaming the recession. However, industry leaders, such as TPI are seeking federal mandates that would require the use of renewable electricity, which would convince potential investors that the market for wind power is a viable one.

TPI’s job-creation deadline would have been Saturday, July 31. However, the Iowa Economic Development Board has extended the deadline to September 15^th.

The American Wind Energy Association reported on Tuesday that the construction of wind farms has taken a 71 percent dip nationwide in 2010 and come to a complete halt in Iowa.

Another potential source of job creation for Iowa is the $38 million blade factory TPI is considering building in Sioux City, IA. The factory would add around 500 jobs to the North-Western Iowa city. Iowa’s state economic development board has awarded Sioux City a $2.5 million loan to aid in the path towards creating the TPI site. The board has also offered TPI $550,240 in state tax credits and $2.2 million in job-training assistance should they decide to build the factory in their town.