Home » NEWS » Economic Development » ABB takes over former building of failed solar panel maker

ABB takes over former building of failed solar panel maker

Swiss firm ABB has taken over a building once occupied by defunct solar firm Twin Creeks and plans to hire 300 people over the next five years.

The company will lease the building and make electrical components.

That means Senatobia can resume making payments to the Mississippi Development Authority on $18 million it borrowed to build the structure. Mississippi lost $27.7 million to Twin Creeks, recouping only $1.25 million.

ABB didn’t immediately say how much it would invest.

Tim Climer, executive director of the Tate County Development Foundation, says ABB plans to add 120,000 square feet to the current 85,000 square-foot building.

Mississippi will give ABB $3.5 million to help with infrastructure and workforce training. The city and county plan 10-year property tax breaks, but Climer couldn’t immediately project values.


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Associated Press

Leave a Reply