Thursday, April 06, 2006
Michael Shore, MEDC
Company Will Invest $250 Million, Create 150 New Jobs
The MEDC is able to award approximately $40 million in federal CDBG funds each year. There are 1,655 local governments within the state eligible to apply for these funds. Projects are approved contingent upon compliance with state and federal requirements.
Hemlock Semiconductor was formed as a wholly owned subsidiary of Dow Corning Corporation in 1979. In 1984, the company formed a joint venture with two of Japan's largest silicon wafer manufacturers, Shin-Etsu Handotai Company Limited and Mitsubishi Materials Corporation. HSC is the world's leading producer of polycrystalline silicon, a component of photovoltaic cells used to produce solar energy and various electronic devices for the semiconductor industry.
Last November, the company announced it would expand in Michigan thanks to a Single Business Tax credit offered through the MEDC valued at $5.1 million over the next 15 years.
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 MEDC initiatives and programs, visit the Web site at www.michigan.org.
# # #