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SunEdison, the solar power company is moving its headquarters from Maryland to Belmont, bringing 500 jobs to the city in the process, the San Mateo County Times reports.
SunEdison, which develops and maintains solar power plants, plans to move about 100 employees from Maryland and San Francisco to its new office just east of Highway 101, south of Foster City, and add up to 400 new staff in the coming years. The company has been aided by state tax breaks in an $8 million renovation of the space, a location the company picked for its proximity to Highway 101, where it will be visible to about 240,000 drivers daily.
The City Council has agreed to waive $86,400 of the $106,400 the company would have to pay in permit fees for renovation, looking instead to the economic benefits SunEdison will bring to the city.