As demand for hybrid and electric vehicles increases, two Midwest
companies form a partnership to bring some 500 advanced battery
manufacturing and R&D jobs to West Michigan. A new state tax credit
for advanced battery manufacturing covers nearly half the projected
costs.
According to excerpts from the story:
Johnson Controls-Saft Advanced Power
Solutions LLC, a Milwaukee-based partnership, announced it will invest
$220 million in a new advanced battery manufacturing facility in
Holland that will produce lithium ion cells. The project to produce the
cells for automotive applications is expected to create 498 jobs.
The plant will be at Meadowbrook and 48th Street, and will produce 15 million lithium ion cells a year.
Michigan economic development officials approved a Michigan Business
Tax Credit valued at $48.5 million over 15 years. The project also is
tapping a new Battery Cell State Tax credit that has a value of $100
million over four years.
Read the complete story here.
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