Main Menu

Tax Incentives Extended for Battery Maker

March 12, 2013
Energy Blog Post

Dow Kokam was granted state of Michigan tax incentives to augment its $161 million grant from the U.S. Department of Energy for its battery cell manufacturing and battery pack assembly in Midland. Now the Michigan Strategic Fund has amended its $100 million tax credit by moving the deadline for creating at least 300 jobs from 2015 to 2018. So far Dow Kokam has created 109 jobs and invested $340 million in the projects. It has also received a four-year extension (to 2020) on a $42 million state tax credit, on the condition that it create an additional 300 new jobs and invest an additional  $200 million on battery pack manufacturing. The Renaissance Zone tax credits requirements were also amended. "Due to slower than anticipated development of the marketplace for advanced energy storage systems, the timing of project completion has changed," according to a memo from the MEDC to the Michigan Strategic Fund Board.

You May Also Be Interested In

Join our email list to receive legal advisories, informative newsletters and event invites based on topics relevant to you.
Subscribe to Updates
Back to Page
{ footer Image }