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