LANSING – State Representative Kate Ebli (D-Monroe) today praised 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, which was later signed by the Governor.
"This is fantastic news for all of Michigan," said Ebli, who serves as Chair of the House Tax Policy Committee. "Making Michigan a more business-friendly state will help attract growing companies in next-generation technologies, create jobs for our workers and foster long-term economic success. Passing effective policies that will attract new businesses must be our top priority as we continue to work to diversify and revitalize our economy."
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.
"These tax credits are proven job creators, and these are exactly the type of investments that Michigan and its workers need," Ebli said. "Michigan needs to become the premier location for new and emerging high-tech industries, which will be vital to rebuilding our economy and creating thousands of new jobs for our workers. This is a major step in the right direction for our state."