NEWTON, Iowa — EDITOR'S NOTE: The above video originally aired Dec. 31, 2021.
Wind blade manufacturer TPI Composites, Inc.’s Newton facility will be getting a second chance.
After laying off nearly 710 employees in Dec. 2021 and shutting its doors entirely, TPI announced Thursday that it was able to secure a new 10-year lease for the Newton plant after signing an agreement with GE Renewable Energy.
TPI previously manufactured wind blades for GE in Iowa from 2008 to 2021, but the new agreement will allow TPI to secure a long-term plan for Newton after a tumultuous few years.
In 2020, the Newton's facility paused production due to COVID-19.
President and CEO of TPI Bill Siwek discussed the future for Newton in the press release, saying in part:
"We are pleased to announce our unique partnering approach with GE to secure the long-term availability of our Newton, Iowa facility for GE’s future blade production needs ... We look forward to working with GE to take advantage of this opportunity to relaunch the Iowa facility and thank GE for their confidence in TPI’s team to implement this strategy."
Siwek also credited the Inflation Reduction Act of 2022 for supporting America's renewable energy sector.
"We look forward to working together with them in Iowa to create jobs and manufacture equipment that produces clean, reliable, sustainable energy for our customers," said GE Renewable Energy’s CEO of Onshore Wind Vic Abat in the press release.
Wind blade production in Newton is expected to begin again in 2024.
► Download the We Are Iowa app
► Sign up for Local 5's "5 Things to Know" email newsletter
► Subscribe to Local 5 News on YouTube