It was supposed to brighten the Hudson Valley manufacturing industry. But as our Curtis Schick shows us, the lights could soon be out at SpectraWatt.

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EAST FISHKILL, N.Y. -- In spring the ribbon was cut. Solar cell manufacturer SpectraWatt opens for business. The production line hums in an empty part of the old IBM East Fishkill plant. State, local and federal leaders took tours.

"People often ask me Secretary of Labor what is a green job. This is what we mean when talk about green jobs," said Hilda Solis, U.S. Labor Secretary, this past March.

And said these are jobs that will power the economy.

"It's the continuation of what Congressman Hinchey and I have been working on, which is to turn the Hudson Valley into the center of renewable energy, specifically solar energy," said Rep. John Hall in May.

SpectraWatt now says after being in business less than a year it is powering down. The company told New York State this week it will lay off all 117 employees starting in March.

In a statement, David O'Connor, SpectraWatt Vice President said, "This action is undertaken in response to deteriorating market conditions resulting from a harsher-than-usual European winter causing a large drop-off in demand for solar cells."

Economic development officials said the company qualified for millions of incentive dollars. And SpectraWatt officials said they wouldn't be in New York without them.

"I think leaders have to stop telling people we are not in a recession. We are. And ultimately we need to drive down the cost of doing business so companies can survive without government subsidy."

"SpectraWatt's announcement is frustrating and disappointing after nearly a year of work to recruit the company. We want to reassure the individuals and families that county agencies are available to them for support," said William Stienhaus, Dutchess County Executive in a statement.

The company said if business gets better, it could reverse its decision.