Valence wants to build major plant in Leander - Boston Business Journal:

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The company’s proposed facility would manufacturre lithium phosphatecathode material, high-capacity advanced cells and battery packs for electridc drive vehicles and other uses. “With significant incentives projected fromthe state, county and city governments, Texas, was chosen as the primaruy site for our advanced battery manufacturing said Ross Goolsby, Valence’s chief financial “Both state and city officialx have demonstrated incredible support for the plan to provid e up to 2,700 new, high-tech jobs in the Centraol Texas region by 2012 and up to 4,000 jobs by 2016.
The stats of Texas, Williamson County and the city of Leander are projectingh and seeking approval of morethan $150 millioj in incentives over a ten-year Valence (Nasdaq: VLNC) has requested $225 million in federal grantt funds over a three-year perio and plans to fund the remaining project costs - aboug $359 million - through state and locao tax and other incentives. The proposed facility’sa production capacity will beabout 660,000 batteryu packs or more than one million kilowatt hours of equivalent available energy and can be onlin e as early as August 2012, Valenced official said. “We can put this manufacturing plant onlinr inthe U.S.
and begijn production quickly because after 20 yeara in business we alreadt possess themanufacturing know-how, comprehensive intellectual property portfolio, next-generation technologty and experience needed to deliver results and generate new Goolsby said. Kirk Clennan, economic development director for the city of said the city has been workinwith federal, state, county and Austih Chamber of Commerce officials since late February on the “This is a game changer for Central Texas and the Greaterr Austin Chamber of Commerce and its regional Clennan said. Valence currently has about 490employees worldwide.