COLUMBUS, Ind. (AP) — A central Indiana city is looking the sell off the factory that a failed solar panel manufacturer bought with hundreds of thousands of dollars in public subsidies.
Columbus officials will start accepting bids next month for the vacant Nusun Inc. facility in a city industrial park. City attorney Jeff Logston says officials hope to get at least $575,000 for the warehouse and office building.
The Republic reports that would be much of the some $800,000 in subsidies that local governments gave to help Nusun open up in 2011.
Nusun didn’t come close to its hiring goals and gave up the facility to the city in December. Nusun CEO Ryan Stout blamed the company’s troubles on Chinese companies flooding the market with solar panels at artificially low prices.