Governor Jennifer M. Granholm today announced that The Dow Chemical Company will invest over $100 million to expand its Michigan Operations Manufacturing Site in Midland for production of a new automotive filter. The expansion is expected to create 55 new jobs. Assistance offered through the Michigan Economic Development Corporation (MEDC) helped convince the company to invest and create jobs in Michigan.
“Dow Chemical has been a partner in Michigan’s economic success for more than 100 years,” Granholm said. “We are proud to partner with the company once again as they develop new technologies and grow new jobs.”
Based on the MEDC’s recommendation, the Michigan Economic Growth Authority board today approved a state brownfield tax credit valued at $10 million to support the project. The city of Midland will provide additional support through a 12-year abatement worth $4.5 million. The automotive filter project is subject to final approval by the Dow board of directors.
Dow Automotive will renovate three functionally obsolete buildings on site to begin production of Diesel Particulate Filters for light and medium-duty trucks in response to new emission control regulations scheduled for 2010. The renovated buildings will house the main production facility, production offices, a library, control room and in-process lab.
“I applaud the city of Midland for working with the company and the state to make this project a reality,” MEDC President and CEO James C. Epolito said. “These facility upgrades and the product that will come as a result will have a positive impact for years to come.”
The Dow Chemical project is one of 14 economic development projects the governor announced today. In all, they are expected to create a total of 2,851 Michigan jobs.
“We appreciate the support of the MEDC and the City of Midland on this project,” says David Dupre, vice president of Dow’s Michigan Operations manufacturing site. “This will allow us to continue moving forward with our growth plans at Michigan Operations, which has netted $300 million in new investments and a couple hundred new or retained jobs over the past few years.”
In her 2007 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005, the governor and the MEDC have announced the creation or retention of more than 211,000 jobs as a result of targeted assistance provided by the MEDC.
“Dow Chemical has provided strong economic support for the entire region for over a century,” Midland Tomorrow Executive Director Scott Walker said. “This new automotive investment represents not only a continuation of the company’s economic success, but expansion into new areas of its high-technology industry. We're proud to be home to such a technology leader that's helping diversify and strengthen Michigan's economy. We'd like to thank the MEDC for working with the local community with the Brownfield credit for this project.”
Dow is a diversified chemical company that harnesses the power of innovation, science and technology to constantly improve what is essential to human progress. The Company offers a broad range of products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $49 billion and employs 43,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com. The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information on the Michigan Economic Development Corporation’s initiatives and programs, visit the Web site at www.MichiganBusiness.org
# # #