Monday, July 16, 2007
Michael Shore, MEDC
Company Relocating Operations from Wisconsin, Adding 175 New Jobs
Governor Jennifer M. Granholm today joined company and local officials to celebrate the groundbreaking of a new BASF Corporation facility in Wyandotte that will house the R&D, administrative and manufacturing operations of recently acquired Johnson Polymer. BASF is investing up to $147 million to relocate the operations from Wisconsin, a move that will add as many as 175 new permanent jobs in Michigan.
a state employment credit valued at nearly $6.5 million over 10 years, and a state brownfield tax credit worth up to $15 million that will help BASF decontaminate and prepare the property for construction of the new facility.
The city of Wyandotte is considering local tax abatements totaling approximately $35 million over 20 years to support the project.
An economic analysis conducted by the MEDC estimates that increased economic activity created by the expansion will result in an additional 473 indirect Michigan jobs, in addition to the 175 created directly by the company. The project is expected to generate more than $497 million in personal income for Michigan workers over the life of the tax credit.
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