The Korean energy company Nexolon has chosen San Antonio as its headquarters in the U.S., and promised Wednesday to bring 400 high-paying jobs to the area.
Nexolon America broke ground on a new 240,000 square foot facility at Brooks City-Base to manufacture solar panels for sale in North and South America.
Brooks Development Authority Chairman Manuel Pelaez-Prada says a foreign company investing $100-million dollars in a San Antonio operation is good news for high-skilled workers and administrators, and the benefits will trickle down to other business sectors of the city, including the housing market.
"These are going to be new folks who are going to come to San Antonio. They're going to need to live somewhere. But additionally, we're going to have workers here on this site and at this plant who are going to be earning more than they've probably ever earned before. People who earn more buy houses," Pelaez-Prada says.
Greater San Antonio Chamber of Commerce President Richard Perez said the jobs are high-skill, high-wage positions. Nexolon expects commercial production to begin in the summer of next year and reach full capacity by 2015.