The economy in South Texas is about to get a shot in the arm as a new solar project gets underway in San Antonio. CPS Energy and OCI Solar Power are in the midst of launching the largest municipally owned mega solar project, which will bring in a minimum of 800 jobs to the city. The impact of this project will be far reaching and will launch Texas into the top five in the nation for the production of solar power.
The deal includes a 25-year power purchase and economic development agreement creates a manufacturing-to-generation contract which will provide enough electricity for 70,000 local households – or about 10 percent of San Antonio’s customers.
The new corporate headquarters in San Antonio will bring an estimated $100 million high-tech U.S. manufacturing operation, more than 800 professional and technical jobs with an annual payroll of nearly $40 million, $700 million in annual economic impact, $1 billion in construction investment, and a 25-year power purchase agreement.
“San Antonio continues to see economic growth with good-paying, sustainable jobs,” said Mayor Julian Castro. “CPS Energy’s pursuit of clean energy and energy efficiency has attracted seven clean technology companies and a commitment, thus far, of a million dollars to local education. Those are the kinds of partnerships we welcome as we focus on our city’s current and future needs.”
Texas ranks below the national average in unemployment. Nationally, unemployment still hovers around 8 percent, but Texas numbers report 6.9 percent. Bringing another 800 jobs to the South Texas job market will no doubt fuel encouragement in the state overall.