A German-based solar panel manufacturer, Solarzentrum North America, will invest more than $7 million to move its manufacturing center to Osgood, Indiana, creating an estimated 140 jobs in the region.

The firm will relocate the manufacturing of its Combined Heat and Power PV-Therm modules from New Mexico to southeast Indiana. "I commend Solarzentrum for seeing Osgood's potential, and I am grateful for this employer's investment in Ripley County, said State Senator Johnny Nugent. "This latest jobs announcement helps confirm Southeast Indiana is becoming a prime destination for manufacturers looking to expand or relocate. From March 2011 to March 2012, our region saw an increase in manufacturing jobs, with more than 56,000 industrial workers now employed here.

"While this is certainly an encouraging sign, too many of our fellow community members are still unemployed or underemployed. Looking forward, state leaders must continue to encourage job creation by promoting a business-friendly atmosphere achieved through low-tax and pro-growth policies," he added.

Reinhard Peter, Solarzentrum North America Chief Executive Officer said, "We look forward to future expansion and partnerships within the community. The introduction of a PV-Therm Solar manufacturing presence in the SE of Indiana is extremely good news for our US customers..Starting a manufacturing facility closer to them, customers can now expect shorter lead times and an innovative US-Made-German-engineered solar product. This business model strategy of keeping manufacturing close to our customers worldwide is based on the success."

While Indiana officials have not announced a package of incentives to promote the firm's relocation, the state traditionally provides tax incentives and assistance with job training based on job creation.