Governor Gretchen Whitmer joined the Michigan Economic Development Corporation today in announcing Michigan Strategic Fund (MSF) approval of a project that will support Dow’s ongoing manufacturing and R&D operations in the state.
“Today’s investment in Michigan will protect 5,000 good-paying jobs in the Great Lakes Bay region,” said Governor Whitmer. “This project invests in people and ensures we are home to cutting-edge R&D facilities. I am grateful to Dow for betting on Michigan. Together, we will pursue our comprehensive economic development strategy to make Michigan the best state to live, work, and invest.”
“Today’s project reflects our commitment to the ‘Make It in Michigan’ economic development strategy’s focus on People, Places and Projects, ensuring our homegrown companies like Dow that are so vital to their hometowns continue their future in the state,” said Quentin L. Messer, Jr., Michigan Economic Development Corporation CEO and Michigan Strategic Fund President and Chair. “While work remains, thank you to Governor Whitmer, the Michigan Legislature, the MSF Board, and local officials for their continued work to ensure every business and Michigander can ‘Make It’ in Michigan.”
The MSF board approved support for Dow to modernize its Michigan Operations Industrial Park in Midland and the Auburn Operations facilities in Williams Charter Township, strengthening the company’s world-class research and development and manufacturing capabilities in Michigan.
MSF support for the project includes approval of:
- A $120 million Critical Industry Program grant
- A 15-year 100% SESA Exemption with an estimated value of up to $454,450 for a minimum of $25 million of investment in Eligible Personal Property
- A 10-year extension of the MSF Designated Renaissance Zone and addition of specific parcels within the established MSF Designated Renaissance Zone
- A mutually agreed-to early termination of Dow’s MEGA tax credit
The investment expects to improve and expand manufacturing processes, including supporting production of silicone foams, gels, coatings, encapsulants, and other materials for use in electric vehicle batteries and other technologies. Modernization of infrastructure within Dow’s Michigan Operations Industrial Park – which serves Dow as well as multiple tenant companies – includes potential investments in aging water and sewer systems.
“Continued investments and commitment by an innovative company like Dow will continue to pay high dividends for the people of Williams Township, Bay County, and the state of Michigan. Investment by state-of-the-art companies like Dow will help bolster our economic future and growth for years to come." said Jim Reaume, president and CEO of Bay Future, Inc.
In addition to maintaining 5,000 jobs in Michigan and potentially serving as an anchor for future development in the area, Dow will continue to serve as an active and visible supporter in the Great Lakes Bay Region the way it has for more than 125 years. Further, the investment ensures the company’s skilled workforce have continued opportunities to grow their skills and experiences and helps to provide a multitude of benefits to the general quality of life in the region.
