Tuesday, November 15, 2005
Company Chooses Michigan for $327 Million Investment
Governor Jennifer M. Granholm today announced that Hemlock Semiconductor will invest $327 million in a two-phase expansion of its operations in Hemlock. The project will create 463 new jobs, including 150 directly by the company. Assistance offered through the Michigan Economic Development Corporation helped convince the company to choose Michigan over a competing U.S. site.
The expansion is one of nine economic development projects the Governor announced today. In all, they are expected to create a total of 1,573 Michigan jobs.
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. In her 2005 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 64,000 jobs as a result of targeted assistance provided by the MEDC.
Hemlock Semiconductor Corporation
Economic Analysis Summary Estimates
(All estimates in 2005 dollars)
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