©2016 Michigan Economic Development Corporation

United Solar Ovonic Bringing High-Tech Manufacturing Facility, 200 New Jobs to Greenville

Wednesday, March 22, 2006

Michael Shore, MEDC
(517) 335-4590

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.

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www.michigan.org.

United Solar Ovonic LLC
Economic Analysis
Summary Estimates
(All estimates in 2006 dollars)

TOTAL JOBS CREATED

563

Direct

200

Indirect

363

NET POSITIVE STATE REVENUE IMPACT

$22,926,000

Revenue Foregone

$5,696,000

Revenue Gain

$ 28,622,000

Average Wage

$560/wk

$600,394,000