From: Hernandez, Angelita (GOV)
Sent: Tuesday, April 20, 2010 4:55 PM
Subject: What the Governor's Talking about Today

Importance: High

Attachments: TPs 4-20-10.doc

What the Governor’s Talking about Today

Tuesday, April 20, 2010

 

Governor Announces Almost 15,800 New Jobs for Michigan

The governor today announced that the Michigan Economic Development Corporation is helping nine companies grow in Michigan and backing a brownfield redevelopment project.  Combined, the 10 projects are expected to create 15,795 new jobs (8,133 direct), retain 1,493 total jobs and generate $128 million in new investment in the state. 
 
The companies planning expansions in Michigan represent a diverse cross section of traditional and high-tech sectors from metal stamping to pharmaceuticals to aerospace.
  

The Michigan Economic Growth Authority (MEGA) board today approved incentives to win the following projects for Michigan over competing states and countries:

 

 

Key messages:

 

 

Governor Attends Groundbreaking for Toda America in Battle Creek

The governor today participated in a groundbreaking ceremony for the new Toda America cathode material manufacturing facility in Battle Creek that Michigan won over South Carolina.

 

In March, the Michigan Economic Growth Authority (MEGA) board approved key incentives to move the previously-announced project forward: a brownfield tax credit valued at $7.9 million as well as a federal contracting Michigan Business Tax credit which has a projected value of $395,000.  Last November, Toda was approved for a state tax credit of $1.6 million over 12 years to encourage the company to invest $70.1 million in a new cathode material manufacturing facility in Battle Creek in support of the lithium-ion battery industry.

 

The two-phase project, when complete, will have capacity to supply cathode materials to build batteries for hundreds of thousands of HEV, PHEV and BEVs.  The project is expected to create 148 total jobs, including 57 directly by the company and 91 indirect jobs.  The company has also been awarded a $35-million U.S. Department of Energy grant.

 

Key messages:

 

# # #