Seraphim Solar USA Manufacturing, Inc.

THE PROJECT

In December 2016, AMCREF Community Capital provided $12 million of federal NMTC financing and $4.7 million of Mississippi state NMTC financing to Jackson, MS-based Seraphim Solar Manufacturing USA, Inc. (“Seraphim”). The startup plant is bringing high quality green manufacturing jobs to a severely distressed community suffering from high poverty (36%) and low median family incomes (39%). Seraphim’s solar panels are recognized via third party industry standards as being highly efficient and highly reliable. Seraphim’s panels are also 25% thicker than standard and therefore more durable in storms. Seraphim’s U.S.-made panels comply with the American Recovery and Reinvestment Act (ARRA), which allows customers to fully utilize available government solar incentives. Seraphim completed construction of their Phase I 150MW manufacturing line in March of 2016 and began shipping product in May 2016. AMCREF’s capital allowed Seraphim to complete its Phase II expansion.

 

COMMUNITY IMPACT

  • Job Creation and Support: 250 direct FTEs created, including 30 FTEs retained and 220 FTEs created, and approximately 29 direct construction jobs. Seraphim employees receive full benefits and above average wages. Seraphim provides internal job training in valuable skills, and works in partnership with Jackson’s workforce development program.
  • Environmental Benefits: The plant will manufacture 450MW of solar panels per year at full capacity, enough to power 73,800 homes. Solar energy vastly reduces harmful air emissions and fossil fuel dependence. Generating electricity from solar rather than fossil fuels offers numerous public health benefits, such as reduced air and water pollution, as well as increased national energy security.
  • Community Support and Impacts: Over 95% of FTEs will be local hires, and 95% of positions are accessible to individuals without a college degree. Seraphim works with Jobs for Jacksonians and Jackson Win Job Center for recruitment and training, including for hiring 13 FTEs as of Dec 2016. Seraphim estimates it will hire about 50% of its workforce via these two programs. The plant is bringing valuable new high quality manufacturing jobs to a community suffering from high poverty (36%) and low median family incomes (only 39%).
  • Economic / Catalytic Effects: The facility is strongly supported by the City of Jackson, who actively recruited Seraphim and provided numerous economic incentives. Seraphim is Jackson’s first solar manufacturing facility and helping to diversify the local economy.