A solar energy company has announced its plans to move its North American headquarters to Indiana and add more than 500 jobs to the state's economy.
Fronius USA, which is the fourth largest solar inverter producer in the world, will invest roughly $26 million to lease a 400,000 square-foot facility in Portage, Indiana. The new jobs, which will include technology positions, production roles and office administration leaders, will be added by the end of 2016.
The company is currently stationed in Brighton, Michigan. Some of the employees at the current site - which will remain as a sales office - will transfer to Indiana.
The privately-held company specializes in developing innovative renewable energy solutions. It specializes in three sectors: battery charging, welding technology and solar electronics. Fronius has reported a 52 percent sales increase compared to last year.
The Bureau of Labor Statistics states that clean energy practices, such as solar power generation, will be a key piece in the nation's growing "green economy." Job opportunities will expand in all major sectors of the solar power industry, the agency estimates.