Austin TX Jobs Could be Created by Chinese Manufacturer
One Chinese company's decision could help create hundreds of Austin TX jobs.
Yingli Green Energy Holding Co. Ltd. is considering Austin, San Antonio and a few cities in other states as the home base for the company's manufacturing hub for solar-electric panels. The operation could create up to 300 jobs in Austin.
The company currently has 4,700 employees and made $1.1 billion in revenue last year. Company officials have said they are close to choosing a site for the $20 million photovoltaic panel plant. If Austin is chosen as the site of the plant, according to an article by Austin Business Journal, it could serve as a catalyst for the city's ambitions to become a serious player in the solar energy market.
While the areas has had some success by growing local solar companies, such as manufacturer HelioVolt Corp., the city still hasn't been able to bring in an outside company. And even though HelioVolt Corp. has invested tens of millions of dollars to build a plant in Austin, the company has not yet began to manufacture any products.
"We need real companies with new jobs to say there is a wave that is actual and happening," Hector Aguilar, chair of electronics and advanced technology at Austin Community College, said in the article. "Getting 300 jobs is not a huge number, but it is a huge move. It is a huge mind-set change. If we win a company, hopes are up, proof is there."
The few hundred jobs would add to the Austin area's economy, which seems to be holding its own as of late, with employment increasing and unemployment remaining stable.
During September, the Austin-Round Rock area saw its unemployment rate remain flat at 7.2 percent, following a decrease from 7.3 percent to 7.2 percent during August. The current rate is lower than the national unemployment rate of 9.8 percent.
The area had a total non-farm employment of 775,200 workers during September, according to the U.S. Department of Labor Bureau of Labor Statistics. This is up from 769,800 workers during August, but a .7 percent decrease from last year.