Gov. Jennifer M. Granholm, D-Mich., has announced that the Michigan Economic Development Corp. has selected 11 companies in Michigan for investment. Combined, the 11 projects are expected to create 17,321 new jobs and generate over $804 million in new investment in the state.
Companies selected include the Dow Chemical Co., which received a jobs-creation state tax credit valued at $61.3 million over 15 years for Dow projects. These projects include the full-scale production facility in Midland, Mich., 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.
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