SolarWorld Has Injected $1.5 Billion into U.S. Economy since 2008

March 7, 2014

Positive Impact on U.S manufacturing

In a vivid illustration of domestic manufacturing’s potent impact on the U.S. economy, SolarWorld, the largest U.S. solar manufacturer for more than 35 years, announced today that it purchased more than $1.46 billion in goods and services from other American manufacturers and employers between 2008 and 2013. This industrial wellspring of business for suppliers, shippers and professional service providers highlights solar manufacturing’s demonstrated “multiplier effect” in creating jobs, filling factories and fueling investment nationwide.

Solar World logo-solar-world-panels

In the six years since the company opened its U.S. manufacturing headquarters in Hillsboro, Ore., SolarWorld bought more than $15 million in goods and services in each of 18 states and more than $90 million in each of five states: California ($382 million), Oregon ($347 million), Washington ($110 million), New York ($96 million) and Pennsylvania ($91 million). The flow of business helps employers cover payrolls in upstream sectors such as machine part fabrication and aluminum component extrusions, as well as downstream services such as laboratory analysis and financial auditing.

Additional details about SolarWorld purchasing are available on the company’s website.

While American manufacturers long have been recognized as powerful engines of economic growth, a recent studyfinds that advanced producers support at least three to four times the number of indirect jobs as traditional factories. Economists place the multiplier for Intel, SolarWorld’s neighbor in Hillsboro, as high as 4.1. The multiplier effect is particularly significant for advanced manufacturing processes, such as SolarWorld’s cell and module production.

“Our purchasing data paint a compelling picture,” said Mukesh Dulani, U.S. president of SolarWorld. “From one domestic producer, hundreds of millions of dollars flow to other employers, putting thousands of people to work and buoying local economies around the nation. This is what American manufacturing does.”

The purchasing tally excludes many economic outputs, such as interest and tax payments as well as payroll for employees, ranging from Ph.D. researchers to production workers. SolarWorld employs more than 700 workers nationwide. Average annual compensation for permanent, full-time SolarWorld employees well exceeds the national average registered by the U.S. Bureau of Labor Statistics. In addition, the survey did not account for employees’ patronage of still other businesses – day-care centers, supermarkets, and car and TV dealers – in their own lives as well as the personal interest and taxes they paid and the property they purchased.

Source: Business Wire