LANSING – State Representatives Dian Slavens (D-Canton) and Marc Corriveau (D-Northville) today hailed the announcement that four companies plan to invest more than $1.7 billion and create more than 6,600 jobs in Michigan in order to take advantage of Michigan's tax credits for advanced battery technologies, a plan that was the first of its kind in the nation. The House recently voted to expand the tax credit plan to $555 million, which was later signed by the Governor.
"Our top priority must be to attract new businesses to Michigan and get our workers back on the job," said Slavens, who sponsored the plan to expand the original tax credit package to $555 million. "Not only does this plan do that, it lays the groundwork for future investment in this growing industry."
The Michigan Economic Development Corporation today announced that four companies were awarded state refundable tax credits for the production and development of advanced battery technologies, such as those found in hybrid or electric vehicles. Facility locations are pending a final site selection by the companies involved. The four companies are:
Johnson Controls-Saft Advanced Power Solutions LLC, which plans to invest $220 million for a new manufacturing facility to produce lithium-ion cells for automotive use.
LG Chem-Compact Power Inc., which plans to invest $200 million to manufacture lithium-ion battery cells in Michigan.
KD Advanced Battery Group LLC, which plans to invest $665 million for a new 800,000 square-foot facility to produce its Superior Lithium Polymer Battery technology for electric vehicles.
A123Systems Inc., which plans to invest more than $600 million for cell manufacturing and battery pack assembly.
"In times of such economic uncertainty, it is our responsibility to provide our workers with the good-paying jobs these emerging industries will create," Corriveau said. "These investments will help solidify Michigan's place as a global leader in high-tech industries and magnet for economic development."