Wednesday, May 26, 2010
Bridget Beckman, MEDC
LANSING - Governor Jennifer M. Granholm today announced state approval of a 15-year, 75.26-acre Renaissance Zone in the city of Romulus that will be home to A123 Systems' lithium-ion battery manufacturing facility. The project is expected to create up to 370 jobs and generate $131 million in private investment.
“We’re well on our way to becoming the advanced battery capital of North America and a global center for clean energy manufacturing,” Granholm said. “Clean energy companies are choosing to do business in Michigan because of our competitive business climate, tremendous workforce and comprehensive economic development programs.”
A Renaissance Zone allows a company operating within the zone to operate free of virtually all state and local taxes over the life of the designation.
“We are using every tool in our economic development tool box to diversify our economy and grow new jobs,” Michigan Economic Development Corporation President and CEO Greg Main said. “This project and others like it in the pipeline will help grow entire new industries in Michigan.”
"A123's lithium-ion battery manufacturing investment in the heart of our re-developing region helps Michigan continue to brand itself as the energy excellence capital, utilizing our talent workforce to diversify industry," Wayne County Executive Robert A. Ficano said. "We're hopeful A123's decision to locate in Michigan will encourage other businesses to follow suit, taking advantage of our unique resources."
Michigan’s Renaissance Zone program is administered by the Michigan Economic Development Corporation. The MEDC, 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.MichiganBusiness.org.
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