An article on GlobeSt.com reports that the state of Michigan has designated a tax-free Renewable Energy Renaissance Zone at the 120-acre Holland site of a proposed advanced battery manufacturing facility.
According to excerpts from the story:
The state-run Michigan Economic Development Corp. has designated the 120-acre site here, planned for a new $303 million advanced battery plant, as a Renewable Energy Renaissance Zone. The 15-year designation was created by the state for the company, LG Chem-Compact Power Inc.
The zone will allow the company to operate free of virtually all state and local taxes. The firm expects to produce 15 million battery cells per year when the 650,000-square-foot plant is at full capacity.
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