Subsidy Tracker Individual Entry
manufacturing facilities for renewable energy materials
The value of the job creation tax credits, the Michigan Strategic Fund grant and the federal grant as well as the job and investment projections are taken from a press release issued by Michigan Economic Development Corporation on February 25, 2010; available online at: http://www.michiganadvantage.org/Press-Releases/Granholm-Hails-Dow-Plans-for-Billion-Dollar-Clean-Energy-Expansions-in-Michigan/. The value of the remaining subsidies is taken form: Kathryn Lynch-Morin, "Dow Chemical reaping windfall, expanding alternative energy reach," MLive.com, February 25, 2010; available online at: http://www.mlive.com/news/saginaw/index.ssf/2010/02/dow_chemical_reaping_windfall.html
The subsidy package was assembled for an expansion of Dow Chemical facilities used in producing materials for renewable energy generation, such as Dow's Powerhouse Solar Shingle. The subsidy package included: $61.3 million over 15 years in state job creation tax credits; $28 million in local property tax abatements through a Renaissance Zone designation; a $15 million Michigan Business Tax Credit; two brownfield tax credits worth a total of $20 million; and a $5 million grant from the Michigan Strategic Fund. In addition, the U.S. Department of Energy provided the company with a $5 million grant, which is not included in the total here. Overlaps with main Subsidy Tracker data: a $5 million Centers for Energy Excellence entry for 2010, which reflects the Michigan Strategic Fund award.