Wednesday, March 22, 2006
Michael Shore, MEDC
Company Chooses Michigan over South Carolina for $129 Million Plant
Governor Jennifer M. Granholm today announced that Auburn Hills-based United Solar Ovonic LLC, a wholly owned subsidiary of Energy Conversion Devices Inc. of Rochester Hills (ECD Ovonics) (NASDAQ:ENER), plans to build a new, high-tech Ovonic solar cell manufacturing facility in Greenville. The Governor, the state and the MEDC have been actively working with the community to bring new industry to Greenville.
The planned location for United Solar's new plant in Greenville is an extended portion of the Greenville Industrial Park, located near E. Van Deinse and Vining roads.
State and local governments are also providing United Solar Ovonic with additional incentives to invest up to an additional $600 million for up to five more plants in Greenville and up to 1,000 new jobs.
A University of Michigan economic analysis estimates that increased economic activity created by the new facilities will generate an additional 363 indirect Michigan jobs, in addition to the 200 created directly by the company. The project is expected to generate more than $600 million in personal income for Michigan workers over the life of the tax credit.
In her 2006 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 70,000 jobs as a result of targeted assistance provided by the MEDC.
United Solar Ovonic LLC
(All estimates in 2006 dollars)
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