December 22nd, 2010
Wiccopee, NY (Poughkeepsie Journal): In a stunning reversal, the frequently lauded and taxpayer-funded SpectraWatt Inc. has told the state it will close its solar cell plant starting in March and lay off 117 workers. The closing was attributed to loss of European orders resulting from the harsh winter weather there. Follow up:
Follow up:In a news release, the company said it hopes to reverse the situation that led to the decision, but SpectraWatt officials did not respond to requests for details.
Created with nearly $100 million in private and public investments and announced in April 2009, SpectraWatt ramped up quickly, creating jobs in the midst of high unemployment. It began production by March this year and became one of the brightest new lights in the Hudson Valley economy. Now it has blinked, and may well go out.
"The company continues to pursue alternatives aimed at improving its current situation and hopes to reverse this action," the company said.
Read a later article here.