August 06, 2008
August 6, 2008
Underscores Michigan's commitment to grow alternative energy sector
LANSING - Governor Jennifer M. Granholm today signed bipartisan legislation designed to encourage the continued growth and expansion of Dow Corning's Hemlock Semiconductor Corporation (HSC) in Michigan, underscoring the state's commitment to growing the alternative energy sector and the potential it has for creating tens of thousands of jobs.
"The alternative energy sector is a key component in our aggressive plan to grow Michigan's economy and create jobs," said Granholm. "Hemlock Semiconductor is a world leader in the solar energy industry, and we will do everything we can to ensure that they continue to grow and create jobs in Michigan."
Hemlock Semiconductor is the world's largest producer of hyper-pure polycrystalline silicon for the semiconductor and solar industries. Under the bills signed by Governor Granholm, HSC is assured competitive energy costs for a 12-year period beginning January 2012 and ending December 2023 should the company choose Michigan for its next major expansion. That expansion could mean an investment of more than $1 billion and 500 new jobs.
The legislation provides a Michigan Business Tax credit based on the difference between a guaranteed cost per kilowatt hour and the projected cost of electricity estimated by the Public Service Commission staff for up to 1.445 million megawatt hours annually.
"Not only would the HSC expansion bring hundreds of high-tech, high-paying jobs to the Saginaw County area, it would lead to additional development in the energy sector in years to come."
The bicameral, bipartisan package includes: SB 1267 sponsored by Senator Tony Stamas (R-Midland), SB 1268 sponsored by Senator Jim Barcia (D-Bay City), SB 1270 sponsored by Senator Roger Kahn (R-Saginaw), HB 5972 sponsored by Representative Andy Coulouris (D-Saginaw), HB 5973 sponsored by Representative Jeff Mayes (D-Bay City) and HB 5976 sponsored by Representative Ken Horn (R-Frankenmuth).
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