LANSING – State Representative Lee Gonzales (D-Flint Township) 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 tax credit plan, originally proposed by Gonzales, was recently expanded to $555 million.
"This is a great day for Michigan, which is poised to become the world leader in advanced battery technologies," Gonzales said. "These investments are proof-positive that Michigan is ahead of the game when it comes to attracting the new, dynamic industries of the 21st century economy. Today's announcement is a key step on the road to recovery for Michigan's economy that will benefit workers and businesses alike."
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.
"With all the bad economic news we've been hearing recently, it's good to know that our plans to revitalize Michigan's economy are bearing fruit," Gonzales said. "By positioning Michigan to be a magnet for this developing industry, we can spur future economic development and lead the way toward a greener, more sustainable future.