Danville IDA takes the next step on 'Project Helios'

An economic development effort to bring high-tech research, development and the manufacture of solar energy cells may be a step closer to bringing 256 new jobs to the Dan River Region.

“Project Helios” got the backing of Danville’s Industrial Development Authority on Tuesday, when members in attendance voted unanimously to apply for a $5.5 million tax-free Recovery Zone Facility Bond for the project.

Jeremy Stratton, Danville’s director of economic development, put the possibility of funding the project with a Recovery Zone Facility Bond before Danville City Council’s work session earlier this month — and told them time was short.

The IDA advertised a public hearing that was held Tuesday, where members voted to approve the funding effort; the city must meet the criteria for being considered a recovery zone in time for City Council to vote on the designation at its Oct. 19 meeting; and the bond issuance will need a “yes” vote from City Council on Nov. 4 to meet the application deadline for funding the project.

The project calls for the company to set up operations in the Charles Hawkins Research Center, next to the Institute for Advanced Learning and Research — and the Tobacco Commission has already approved at least $5 million in funding for the project.

While the name of the company was kept secret throughout months of negotiations, the city was required to reveal the company’s name to qualify to apply for a Recovery Zone bond.

“We had to name it in the public notice for the Recovery Zone bond,” Barbara Dameron, the city’s finance director, said Tuesday.

Semprius Inc., of Durham, N.C., is the company economic development officials in both Danville and Pittsylvania County hope to bring to the region.

According to the company’s website, Semprius is developing “low cost, high performance concentrator photovoltaic (CPV) modules to make solar power generation economically viable in sunny, dry climates.”

Danville City Councilman David Luther noted during a work session Thursday the Tobacco Commission had given the company the highest score possible on its research and development projects, and Liam Leightley, executive director of the Institute, said Semprius is “recognized as a company to watch.”

Danville Mayor Sherman Saunders asked Stratton if the city was “risking this project with public discussion.”

Stratton said the competitor for the project — North Carolina — could get information normally not released this early in the project, but the bond issue required it.

Stratton also said he had worked with company representatives on what details could be released.

“What we have done, we have done with their knowledge and permission,” Stratton said.