TPI is awarded state loan to aid restart of operations at Newton
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TPI Composites Inc., the Scottsdale, Ariz.-based wind turbine blade manufacturer, will receive financial assistance from the state for a $3.2 million project to restart production at its Newton facility that’s been closed since 2021.
The Iowa Economic Development Authority board voted today to award the subsidiary TPI Iowa LLC a $500,000 forgivable loan on a five-year contract that, according to a project report from the state agency, will aid the company’s plan to restart two production lines that previously produced wind blades and created 320 jobs.
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