From: Ogar, Jon (GOV)
Sent: Thursday, February 25, 2010 4:59 PM
To: Whipple, Deb (GOV)
Cc: Boyd, Elizabeth (GOV); Huls, JoAnne (GOV)
Subject: What the Governor's Talking about Today

Importance: High

Debbie:

 

Following is today’s edition of WTGTAT. You can send it out now. Thanks!

 

What the Governor’s Talking about Today

Thursday, February 25, 2010

 

Governor Hails Dow Plans for Billion Dollar Clean-Energy Expansions in Michigan

The governor today hailed clean-energy expansions by the Dow Chemical Company in wind, solar, advanced-battery manufacturing and other projects in Midland, totaling more than $1 billion that will create more than 6,900 new jobs.  The company plans to invest $952 million in future projects and has leveraged an additional $161 million from the federal energy department.
 
This week, the state of Michigan, through the Michigan Economic Development Corporation (MEDC), approved key incentives to help win Dow’s projects over competing national and global sites.
  
On Wednesday, the Michigan Strategic Fund (MSF) board approved a Centers of Energy Excellence designation and $5 million grant for Dow to establish operations focused on cost-effective carbon-fiber materials for application in the wind-energy and transportation sectors.  The Oak Ridge National Laboratory (ORNL), a global leader in the development of new materials and processes for the manufacture of carbon fibers, will collaborate with Dow.  Through ORNL’s participation, the U.S. Department of Energy will provide a $5 million match, and Dow will contribute up to $10 million of in-kind resources.

 

On Thursday, the Michigan Economic Growth Authority (MEGA) board approved a new job-creation state tax credit valued at $61.3 million over 15 years for Dow projects, which includes the full-scale production facility in Midland for the company’s DOW™POWERHOUSE™ Solar Shingle, subject to finalizing local, state and federal funding.  The solar project is expected to generate $249 million in private investment and create 6,100 new jobs in the value chain, including 1,275 direct Dow jobs.  Additional projects over the life of the tax credit could create up to an additional 425 jobs and $351 million in additional investment.
 
In addition, the MEGA board approved an advanced-battery tax credit valued at $42 million to support Dow Kokam’s advanced-battery manufacturing operations.  The advanced-battery credit will support the second phase of the project involving the manufacture of lithium ion packs. The company is investing $342 million in this phase of the project, which is expected create 480 total jobs.
  
The two phases of the Dow Kokam project are expected to generate $670 million in new private investment and 800 new jobs.  To support the project, the MSF board on Wednesday approved a 15-year state Renaissance Zone for the 56.22-acre site.

Key messages:

 

 

Governor Announces More Than 17,300 New Jobs for Michigan

The governor today announced that the Michigan Economic Development Corporation is helping 10 companies grow in Michigan and backing a brownfield redevelopment project that will enable a company to expand.  Combined, the 11 projects are expected to create 17,321 new jobs (5,749 direct and 11,572 indirect) and generate over $804 million in new investment in the state. 
 
The projects include a new research and development facility in Northville Township that will supply materials for lithium-ion battery cells, the re-launch of a facility in Cadillac that manufactures boats, and the expansion in Perry Township of a high-tech firm that provides automotive engineering and test development services.

 

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Jon Ogar

Senior Writer/Editor

Communications Division

Office of Governor Jennifer M. Granholm

Office 517-335-6819

Cell 517-515-2743

Fax 517-335-6790