First Solar (NASDAQ:FSLR) Building MFG Center in Mesa, AZ

First Solar, Inc. (NASDAQ:FSLR) announced that it will build its new U.S. manufacturing center in Mesa, Ariz. The company will invest approximately $300 million in the facility, which will create approximately 600 jobs and will include four manufacturing lines with a capacity to produce over 250 megawatts (MW) of advanced thin-film photovoltaic (PV) modules a year.

The new factory, combined with First Solar's recently expanded facility in Perrysburg, Ohio, will increase First Solar's U.S. production capacity to over 500MW a year.

"Supportive state and federal policies have provided the visibility needed for the U.S. to become our fastest-growing market, and the Mesa factory will enable us to meet that growing demand," said Bruce Sohn, President of First Solar. "Programs such as Department of Energy loan guarantees and the solar investment tax credit are crucial to helping the renewable energy industry quickly reach the scale needed to compete with fossil fuels. Over the long-term, programs like these facilitate the market growth and investment that will support the future expansion of this factory."

"First Solar's presence in Arizona has been a great engine in driving our renewable energy sector forward," said Arizona Governor Jan Brewer. "And now its plans for a 135-acre technology campus - with 600 quality jobs and the potential for hundreds more - will propel Arizona into its second century, while promoting the Arizona Commerce Authority's plan for business attraction, retention and expansion. We are grateful that First Solar's leadership has confidence in my Cornerstones of Reform - including the Arizona Competitiveness Package. "

"The U.S. has always led the world in innovation and Arizona is proud to be on the leading edge of the energy evolution," said Arizona Senator John McCain. "First Solar's announcement to build a new factory in Mesa and deploy their domestically manufactured modules in solar projects like Agua Caliente in Yuma County will not only create job opportunities for Arizonans but also represents another important step toward greater energy security."

"First Solar's investment is significant for both Mesa and our region," said Mesa Mayor Scott Smith. "The location also confirms the Gateway area's potential to become a major center of economic growth, innovation and high-wage jobs."

Now we need to get rid of taxpayer subsidies for solar in order to see if there is real demand for the product.

First Solar closed Tuesday at $149.00, down $1.18, or 0.79 percent.