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Friday, October 29, 2010
Governor Jennifer M. Granholm today announced state approval of a 15-year Renewable Energy Renaissance Zone in the city of Holland that will house Energetx Composites, a manufacturer of wind turbine blades using advanced materials.
LANSING – Governor Jennifer M. Granholm today announced state approval of a 15-year Renewable Energy Renaissance Zone in the city of Holland that will house Energetx Composites, a manufacturer of wind turbine blades using advanced materials. The new manufacturing facility is expected to create up to 700 jobs and generate $18.4 million in private investment.
“Energetx’s products have the potential to revolutionize the way that wind turbine blades are manufactured, helping position Michigan as the center in North America for advanced green manufacturing,” Granholm said.
Energetx, a spin-off of S2 Yachts, produces commercial products for the wind industry. The company is considering expanding into the electric vehicle sector. The new Energetx facility will produce utility-scale wind turbine blades. The company will also provide necessary testing to ensure the proper quality of the blades and materials used in the manufacturing process.
“Today’s announcement is the result of innovative economic development tools that allow Michigan to diversify its economy, generate private investment and create jobs,” said Michigan Economic Development Corporation President and CEO Greg Main.
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. Michigan’s Renaissance Zone program is administered by the Michigan Economic Development Corporation (MEDC).The Michigan Economic Development Corporation, 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.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
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