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Oct 17, 2024

Battery and inverter manufacturing for solar panel company to soon begin in Commerce | Local News | heraldbanner.com

The Commerce Economic Development Corp. is currently seeking tax incentives from Hunt County for four businesses that plan to work together in Commerce to make batteries and inverters for Signature

The Commerce Economic Development Corp. is currently seeking tax incentives from Hunt County for four businesses that plan to work together in Commerce to make batteries and inverters for Signature Solar of Sulphur Springs.

One of the companies is 300 Maple St. LLC, which is the real property owner of the former Covidien/former Sherwood Medical Company building at 300 Maple St. in Commerce. The three companies that are preparing to start manufacturing there are EG4 Electronics, BigBattery and OutBack Power.

According to Commerce EDC executive director Bonnie Hunter, the owner of the building has so far put in about $1.5 million in renovations to the facility, and Signature Solar currently employs about 300 people.

Similarly, Brian Foley with both EG4 and Signature Solar said that production at the facility should be able to begin sometime in November and that they plan to have it fully equipped and staffed within nine months.

At last week’s meeting of the Hunt County Commissioners Court, Hunt County Civil Attorney Daniel Ray explained that any tax incentives, be they abatements or rebates, would have to be for value added to the property after an agreement is made and could not be retroactively given for improvements already made by those companies.

While Hunt County Judge Bobby Stovall and Commissioner for Precinct 4 Steven Harrison both expressed enthusiasm for the facility, the court has not yet taken action on offering the companies a tax incentive agreement.

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