RIVERSIDE – A company that specializes in the installation of solar energy products for homes and businesses will be establishing its headquarters in Riverside before year’s end, bringing or creating more than 1,000 jobs, its CEO announced today.
”We were looking at our expansion plans and realized that going to Riverside made sense because not only is it sunny most of the year, but the city is focused on green technology and development, and the area is growing,” said SolarMax Technology Inc. CEO David Hsu.
The company currently operates out of a complex in the city of Industry. Its new headquarters will be the previously shuttered Food Machinery Corp. building at 3080 12th St., adjacent to the downtown Metrolink station.
The mammoth structure is undergoing renovations that include a rooftop awash in solar collection panels to provide electricity.
”We will be looking for renewable technology partners … in geothermal, LED lighting, wind and water treatment,” Hsu said. ”We will create a one-stop solution for all green-related technology and truly develop Riverside as a green city.”
SolarMax touted 1,600 direct and indirect jobs connected to the enterprise, though it wasn’t clear how many of those will be existing positions and how many will be new ones. The company is transferring its sales and consumer financing departments to the new facility, as well as some distribution personnel.
SolarMax Tech Sales Director Guillermo Santomauro lauded the city and county of Riverside’s various rebate programs and tax incentives as good for business.
The U.S. solar manufacturing industry has been suffering from rapidly declining prices in recent years, mainly due to imports from China. In May, the Obama administration slapped tariffs on panels imported from China in a move to boost domestic production.