US lithium battery firm Oakridge Global Energy Solutions has been granted tax breaks that allow plans to boost its manufacturing space in Florida to go ahead.
The $9million property tax breaks rely on the firm adding 1,000 jobs in Palm Bay by 2019, and investing $270million in manufacturing equipment.
The tax breaks will be spread over the next eight years.
Reports have stated the company plans to add 230,000 square feet of manufacturing space, and add a 68,000 square feet corporate headquarters and a research and development centre in the US state.
The company currently employs 25 people and has a 50,400-square-foot manufacturing area in Melborne, Florida.
The company recently launched an aggressive new restructuring process, which included appointing a new Chief Financial Officer, and launching a wholly-owned subsidiary in Hong Kong.
