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Brown Welcomes New Business To California

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Governor Jerry Brown visited the new headquarters of SunEdison in Belmont last week, to mark the company’s decision to establish their world headquarters in California. The company, currently headquartered in Maryland, decided to make the move following actions by Governor Brown and the Legislature to create a friendlier business environment in California.

Brown was Tuesday’s KVML “Newsmaker of the Day”.

“SunEdison’s decision to relocate to California is proof that, working together, state government and business can find ways to cut red tape, tackle our environmental problems and create jobs,” said Governor Brown.

SunEdison finalized its move following the Governor’s signature of ABX1 15 by Assemblymember Jerry Hill (D-South San Francisco), which clarified tax law and allows the state’s solar energy property tax exclusion to apply to sale-leaseback transactions. Prior to this law, solar companies were taxed for transactions that commercial real estate owners were not. Governor Brown signed ABX1 15 on June 28, 2011.

“Locating the SunEdison headquarters in California, the largest energy market in North America with a longstanding commitment to renewable energy, positions us to support better our customers,” said Carlos Domenech, president of SunEdison. “Being in Silicon Valley gives us access to a wider talent and companies that are motivated to solve the supply and demand challenges that electric power faces. California has long been a trendsetter in technology, business innovation and caring for the environment. Being here will help us to make solar a viable and meaningful source of energy.”

SunEdison is one of the world’s leading solar companies. Globally it produces more than 260 MW of solar energy capacity, has 450 operational sites, and has delivered 730,529 MW onto the grid. In California, SunEdison currently has 278 solar project sites. As a result of the move, SunEdison will bring approximately 200 employees from Maryland, adding to the existing 100 employees they currently have in California. They plan to create approximately 300 new jobs over the next five years.

The Governor was joined by Domenech, Assemblymember Jerry Hill, Senator Leland Yee and State Board of Equalization members Jerome Horton and Betty Yee for the announcement.

The “Newsmaker of the Day” is heard each weekday morning on AM 1450 KVML at 6:47, 7:47 and 8:47am.

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