930in716 July 12, 2017 SolarCity Update

930in716
Wednesday, July 12th

What's the latest on SolarCity in Buffalo?   Here you go!

00:12:17

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Her kids 930. In 716. All about solar city on the podcast I think they're just. Really trying to take care of business that's Howard's and ski president and CEO of empire state development corporation. We'll get the full inside skinny on where things stand from him in a moment. There is skepticism about what's going on or not going and there are job fairs happening 3000 jobs relocated at the expansive riverbend facility just south of downtown. All the data is hinged on a Triad involving Tesla solar city and Panasonic. So where does it all stand where are the jobs and when will it open. We ask Governor Cuomo during his visit this week. Let me ask Howard because he has the most recent. OK okay so let's ask cowards and ski. Is a pretty detailed update for our Mike Becker. Howard even given name hardly any officials as to when solar city and I mean when you say we'll open up what exactly here for you they're there they are open up there installing equipment and then cut jobs are going on and Panasonic and knows their partners hiring people's. I don't know exactly what you mean by opening. Lieutenant governor yesterday said that you know be up operating. Basically full capacity by the end of the summer. Happy exciting thing about. Specific. No I don't have and a specific date they're you know you see. What's happening so there're. You know they're hiring they're ramping up I think there're. You know getting going they've got a new product. It's gonna be realistically. It's going to be impossible. Because it depends is going to be impossible to know force search and exactly when certain things will happen. Because it depends in part on the success of the products in the marketplace. And they have some new products as some innovative products. But. You know the notion that we know these things force search and it is them just a misnomer I think it's important to remember. The same way this plan. You know imagine that was going to be very successful. Selling yogurt that this is a very competitive world. And these companies do the best they can many of them succeed some of them don't. But how exactly how quickly do their new products ramp up. What is the adoption of these products exactly. How smooth as the ramp up of their production facility. I think those are all very real life spent twenty years in manufacturing. Those are all very real. Issues that any company regardless of industry weather it's river bend or solar panels or. Computer chips or makers of breaks or anything at all. Experiences and you know deals well so. You know they are obviously installing a lot of equipment there there wouldn't be going through the exercise of holding job for errors. For no good reason. So you know that's what I see happening. I think only they can saying. What their plans are but in reality nobody can say with certainty. When a DNC. Will happen for sure. So we're optimistic about the plan we loved the partnership. We think tussle as an amazing company we think Panasonic brings. Extraordinary. Manufacturing expertise. And technology and photovoltaic. Cells. We think this plan put it in perspective. So Olivo had never produced a product in their lives. Solar city. Was the largest installer of solar roofs and also never produced a product in their lives. Tesla is producing automobiles one of the most technologically sophisticated. Products in the world to produce. And is turning their attention. Now with the acquisition of solar city to rules. Would you rather have as your partner a company like tassel was making one of the world's most sophisticated products. And Panasonic it worldwide leader in photovoltaic cells. Four company that it never produced anything. So we have right and reason to be optimistic. About the prospects of this partnership between Tesla Panasonic. But having been in business my entire life now adult like for over 35 years competition is typical. The consumer is a fickle. And there are no guarantees in this world and competitive market but we're excited. An extremely optimistic about the partnership they bring to the table. You raise an issue make up about about a few times license hostile building. Barrick plans now. Well there. Well you know Tesla is god. Like the world's largest manufacturing facility in Nevada where they're building batteries and that's a relationship that goes back in all very long time is an effort production. Serie a you know we really are dealing with Tesla primarily as the owner. Of the riverbend facility so you know let's take care of business at hand first. You know we have a good and you know evolving relationship with tasks loans now. Really our new partners so to speak. We're spending time with were you know going to be seeing some of their facilities. And you know these relationships like business relationships start you know somewhere and then evolved hopefully to. You know you build trust you show with Ayers they can do these shorter workers can do. And then you go from there so you know you're engaged with the company and you know you. Plant seeds and hope for opportunity. Have test on Panasonic if they've been transparently the state about what's happening Tillerson. Yeah I think they are. You know they notice. I think that. And they they're very careful about wanting to use this state something. And because of what knives and that there's you know installing things ought to Misha and you know there are many solar. Panels made in the US so they have to get it right and they are I think low to say one thing and do something else so. Acknowledging that you know their and high tech industry in a very competitive industry. There endeavoring you know to make. And manufacture now in the world's largest. Solar panel manufacturing facility I think they're just really trying to take care of business. They are have all their time and attention on it I know you'd like them to have a lot of time and attention on the press and media and answering every one of course in imaginable. But there are no real answers to some of those questions that I think they have learned. Rather than saying something that you might come back to them in three months and say you know you said. That you would do this on this day they're just trying to take care of business they got a lot on their plate they're putting out a new car. They got the world's largest solar panel manufacturing facility. They got a lot going and they're just trying to take care of business and truthfully. The media I think is not there. I asked her. So speaking of solar and stamp. 36 cents a longer this goes on the mourners like yeah I mean there's reasons to be concerned with what's going on nationally in one you know whether it's gonna get funded whether it's gonna get swept the second half. And I have met them I haven't talked to them in a while I think it really again these businesses are competitive they have to raise capital. I think they have some more capital raise. It's so whether or not it happens depends it's not going to be all state finance. And view. Him as much higher rate so I think like anything you know the changing. Landscape. Politically. You know. Regulations of the federal government. Vagaries of the financing market. Price of alternative energies. These are all factors that make being in business really difficult and so for companies like prayers. You know it's not easy in law for insurance is now of course that I don't think they could either. It. It's. Read you it is an explosive industries it's more. Less sexy its fluid milk you can trinket but it it's not. It's never write this about him that was a big swing was golfers you know the upper new new energy. It is is are we can see it regionally pushed more I guess reliable. As traditional markets where I mean I think this. Area has is really taking a multi pronged approach so Gary is always going to be important here I mean you've got a lot of reasons to. You know attract companies like this to the area. We also have. Some other attributes on this site are very few footprints like this in the state of new York and I've been in this job for two and a half years I've been involved with pitching a variety of different projects. Very few. Mega sites like this thing you know you could potentially have the infrastructure both water and electric. It's within that you know range of hydropower and it has proximity to fresh water and those are important ingredients so I think it's a matter of time before. We've land something significant along the lines of what you referred to as sexy technologically. But at the same time you know what when we do. Is the efforts to market this as. Agribusiness part. It is not going to conflict with that and you know us not a question of choosing between high tech and agribusiness. And anyway even though it's not sexy I assure you you come through this plan. You'll be amazed that the amount of technology that's employed in these businesses every industry today is protecting technologically sophisticated. I know. So six suppose you took sixty million dollar write downs where. And Ireland or lost but here. Far beyond what is investors taxpayers and there's certain sense you know maybe GTV should've put a big red bow on top of this building I mean what she working that he's he's CDC mean. Should there there's just been bit this is vice president for account in question. That this building was built it. Was involved right and helping to build us a better agribusiness the bitterness want figures salons blues perhaps yeah. Well it what it was I mean what this is again just this in the nature of industry I've seen in and I was in the meat processing industry for many years. You know one person's. Disappointment is another person's opportunity right and that's just true. In all businesses and so for a company that may be invested some hundreds of millions of dollars to survive this. It becomes an opportunity for a company to you know maybe thirty cents on the dollar require pets. True love office buildings if you look at the ages BC tower it would cost you hundreds of millions of dollars to build it it was much finance for. A hundred million dollars it was bought for ten million dollars. The list of examples as you know long and why so. You know the assets. Get re purpose at a price. And you know you have a company that made an investment. Hoping to get a prize or return it didn't work out that way. That's called doing business. Those are the risks that are in in a real and a competitive world. And for. You know hood it's an opportunity and so and for the region and it's obviously an opportunity so it's you know. It worked out. That's 930 and 716. We're back tomorrow with a net a radiation from the studios of WD EA and buffalo law.
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