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© Flextronics Electronics Production | March 01, 2011

Flextronics receives city loan in Milpitas

Milpitas City officials approved a not-to-exceed USD 1-million loan to Flextronics.

Milpitas City Council authorize the execution of an agreement with Flextronics Americas Inc., which currently employs around 2'200 staff at the solar panel facility in the area. The joint venture between EMS-provider Flextronics and SunPower will receive financial assistance through the Milpitas Redevelopment Agency, local media reports. In return for the requested - and now granted - USD 1 million loan, Flextronics has agreed to create and retain more than 50 jobs at the Milpitas facility. The loan contains an initial payment of USD 500'000, while the other half will be spread across a 4-year period.
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