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What the Governor’s Talking about
Today
Thursday, February 25,
2010
Governor Hails Dow Plans
for Billion Dollar Clean-Energy Expansions in
The governor today hailed clean-energy expansions by the
Dow Chemical Company in wind, solar, advanced-battery manufacturing and other
projects in
This week, the state of
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
The governor today announced that the Michigan Economic
Development Corporation is helping 10 companies grow in
The projects include a new research and development
facility in
Key
messages:
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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