In Honor of Independence Day, SolarWorld Lauds Economic Impact of American Manufacturing

  In Honor of Independence Day, SolarWorld Lauds Economic Impact of American
  Manufacturing

Company injected more than $240 million into other U.S. businesses in 2012

Business Wire

HILLSBORO, Ore. -- July 3, 2013

In light of Independence Day, SolarWorld, the largest U.S. solar manufacturer
for more than 35 years, celebrates the impact of domestic renewable-energy
technology manufacturing in advancing the nation’s economic and energy
independence. The company purchased more than $240 million in goods and
services from other manufacturers and employers in 46 U.S. states in 2012,
according to a report released today. This industrial wellspring of business
for suppliers, shippers and professional service providers highlights solar
manufacturing’s so-called multiplier effect in creating jobs, filling
factories and fueling investment across the U.S. economy.

In one year, Oregon-based SolarWorld purchased more than $1 million in goods
and services in each of 18 states and more than $18 million in each of five
states: Oregon ($71 million), Washington ($45 million), California ($43
million), Pennsylvania ($18.7 million) and Minnesota ($18.6 million). The flow
of business helps employers cover payrolls in upstream sectors such as machine
part fabrication and aluminum component extrusions and downstream services
such as laboratory analysis and financial auditing.

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 800 workers in Oregon and
California. Average annual compensation for permanent, full-time SolarWorld
employees 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.

“Economists have long viewed American manufacturers as particularly potent
catalysts of U.S. economic growth,” said Gordon Brinser, president of
SolarWorld Industries America Inc. “They also recognize the intimate tie
between manufacturing and innovation – and the related spin-off business and
academic development.”

According to a 2012 report, “The Facts about Modern Manufacturing,” the
National Association of Manufacturers calculates: “Every dollar in final sales
of manufactured products supports $1.48 in output from other sectors. This is
the largest multiplier of any sector. The retail and wholesale trade sectors
have much lower multipliers, generating only 54 cents and 58 cents
respectively in other additional inputs for every dollar of economic activity
they generate. Manufacturing plants, therefore, have a powerful and positive
impact on economic development.”

About SolarWorld

SolarWorld AG manufactures solar power systems and in doing so contributes to
a cleaner energy supply worldwide. The company, located in Bonn, employs
approximately 2,600 people and carries out production in Freiberg, Germany,
and Hillsboro, USA. From raw material silicon to the solar module, SolarWorld
manages all stages of production ‒ including its own research and development.
Through an international distribution network, SolarWorld supplies customers
all over the world with solar modules and complete systems. The company
maintains high social standards at all locations across the globe, and has
committed itself to resource- and energy-efficient production. SolarWorld has
been publically traded on the stock market since 1999. More information at
www.solarworld-usa.com.

Contact:

SolarWorld Industries America
Media Relations Manager
Devon Cichoski, 805-388-6388 (Office)
805-377-2905 (Mobile)
Devon.Cichoski@SolarWorld-USA.com
 
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