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Abound Solar: On-Track With $400M Fed Loan

The solar panel?manufacturer?reaffirmed its plans for an Indiana plant with 800 to 1,000 workers are going well.

TIPTON, Ind. (AP) -- A solar panel manufacturer says its plans remain on track to start production at an unfinished auto parts factory in central Indiana a year after President Barack Obama announced $400 million in federal loan guarantees for the company.

Abound Solar took control of the vacant factory near Tipton after gaining final loan approval in December and has since added production at its existing plant in Longmont, Colo.

Company vice president Russell Kanjorski tells the Kokomo Tribune that attention is turning to the Tipton plant, with some hiring possibly starting late this year and equipment installation in late 2012. Abound projects it eventually having 800 to 1,000 workers.

Tipton County Commissioner Jane Harper says some businesses are interested in the area near the plant but are waiting to see more action.