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FOR IMMEDIATE
RELEASE
Contact: Michael Shore, MEDC
May 1,
2006
(517) 335-4590
Hemlock
Semiconductor Expansion Wins Global Recognition
Saginaw Economic Development Group Also Honored
Governor Jennifer M. Granholm, Michigan Economic Development
Corporation President and CEO James C. Epolito and Saginaw Future, Inc.
President JoAnn Crary today announced the Hemlock Semiconductor expansion in
Thomas Township has been named a 2005 Blockbuster Deal by Site Selection
magazine. Saginaw Future Inc. was also recognized as one of the top economic
development agencies in the nation.
“This expansion is a testament to the most aggressive and
comprehensive plan of any state in country to win new investment and jobs,”
Granholm said. “It signals to the rest of the world that Michigan is right
place for high-tech companies to grow.”
HSC is the world’s leading producer of
polycrystalline silicon, a component of photovoltaic cells used to produce
solar energy and various electronic devices for the semiconductor industry.
Last November, the company announced it would invest $327 million in a
two-phase expansion. The project is expected to create 463 new jobs.
The MEDC approved a Single Business Tax Credit valued at more
than $5.1 million over 15 years to win the project over a competing site in
Kentucky. Thomas Township and the city of Saginaw partnered to propose local
tax abatements estimated at more than $52 million.
“It is a
tremendous honor to be recognized by Site Selection
as one of the top economic development agencies in the country,” Saginaw
Future President JoAnn Crary said. “The HSC expansion is one example of how
our collaboration with the MEDC and other partners results in new jobs and a
stronger economy for our community.”
Site Selection magazine provides
expansion planning information to 45,000 executives of fast-growing firms in
117 countries.
“Saginaw Future is one of the
MEDC’s great corporate partners, and we are extremely pleased that it is
being recognized for its economic development leadership and success,” MEDC
President and CEO James C. Epolito said. “The Hemlock Semiconductor project
is just one of many the organization has been able to secure to bring new
jobs for Saginaw County families.”
Epolito and Crary will meet
with HSC president Rick Doornbos and site manager Greg Skufka this Friday to
discuss the company’s future investment in the state.
A listing of Site
Selection’s 2005 Blockbuster Deals and top economic development
organizations is available in the May issue of the magazine and online at
www.siteselection.com
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. For more information on MEDC initiatives and programs, visit the Web
site at
www.michigan.org.
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