GAF Energy has signed a lease and begun construction on a 450,000 square-foot facility in Georgetown, Texas, a public power community. Construction is expected to be completed in June 2023.
Once improvements are complete, the new facility will serve as the company’s second U.S. manufacturing center for its solar roof, Timberline Solar, the only roof system to directly integrate solar technology into traditional roofing processes and materials.
GAF Energy plans to hire 265 employees in high tech jobs over the next 10 years at the Georgetown facility. The total capital investment for the project is estimated to be over $100 million in that time.
GAF Energy will receive a total combined incentive package worth more than $3.24 million from local jurisdictions, including:
- A City of Georgetown property tax abatement for 10 years of 75 percent for business personal property and 50 percent for real property, valued at $2.35 million;
- A five-year job creation grant with a total value of $395,000, paid by the Georgetown Economic Development Corporation;
- The retirement of renewable energy credits to offset the company’s electric usage for five years to certify the facility as using 100 percent renewable energy, valued at $500,000.
The net 10-year economic impact to Georgetown is estimated to be $3.75 million.