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$40 Million Expansion
for HSC
December 31, 2005Hemlock Semiconductor
Corporation (HSC) plans to invest more than $40 million for expansion of
its operations in Thomas Township. The project will create more than 100
new jobs and was assisted by state and local incentives.
Governor Jennifer M.
Granholm recently announced that HSC will expand its operations,
creating more than 100 new jobs.
The expansion is a result
of assistance offered through the Michigan Economic Development
Corporation (MEDC). The MEDC approved a SBT
credit valued at more than $1.1 million to help convince HSC to choose
Michigan over competing domestic and foreign sites. The company plans an
initial private investment of more than $40 million for the expansion.
Thomas Township approved property tax incentives. The city of Saginaw
also participated through a newly negotiated tax base sharing agreement
with Thomas Township to supply water for 30 years.
A university of Michigan
economic analysis estimates that 62 indirect Michigan jobs will be
created as a result of increased economic activity associated with the
expansion, in addition to the 60 jobs created directly by the company.
HSC is the world’s leading producer of polycrystalline silicon, a
component of photovoltaic cells used to produce solar energy and various
electronic devices used within the semiconductor industry.
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