Dow Chemical plans renewable energy expansion in MichiganPublished on March 3rd, 2010 | By: email@example.com
Michigan Economic Development Corp. reports that Dow Chemical plans expansions in wind, solar, advanced battery manufacturing and other projects in Midland, Mich. The projects are expected to total more than $1 billion and create more than 6,900 new jobs, according to Gov. Jennifer Granholm. The company plans to invest $952 million in future projects and has leveraged an additional $161 million from the federal energy department.
The Michigan Strategic Fund board approved a Centers of Energy Excellence designation and a $5 million grant for Dow to establish operations focused on cost-effective carbon-fiber materials for application in the wind energy and transportation sectors. Oak Ridge National Lab will collaborate with Dow. Through ORNL’s participation, the DOE will provide a $5 million match, and Dow will contribute up to $10 million of in-kind resources.
The MSF also designated the Dow project as a “Centers of Energy Excellence.” In 2008, the MSF awarded $43 million to six designated COEEs, and in 2009 the state legislature earmarked and additional $30 million for a second phase of the COEE program.
The MEDC is also touting a report titled, “American Innovation: Manufacturing Low Carbon Technology in the Midwest,” (PDF) released earlier this year. The report uses economic research from Deloitte to estimate that climate and energy policies could create up to 100,000 new jobs in the region and generate additional market revenues of up to $12 billion, boosting state and local tax revenues by over $800 million by 2015.
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