LANSING – Legislation providing a Michigan Business Tax credit to encourage Hemlock Semiconductor to expand its operations in the state was signed on Wednesday by Governor Jennifer Granholm.
Hemlock, a subsidiary of Dow Corning, is the largest producer of hyper-pure polycrystalline silicon for the semiconductor and solar industries and in the state’s poor economic status the company has been one shining light.
With the tax credit, based on the difference between a guaranteed price of electricity for a new plant and the projected cost, the company is expected to invest $1 billion in a new facility that could create 500 new jobs in the Midland area.
Signed were SB 11267 (PA 265), SB 1268 (PA 266), SB 1270 (PA 262 ), HB 5972 (PA 263), HB 5973 (PA 267 ) and HB 5976 (PA 264). All with immediate effect.
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