Subsidy Tracker Individual Entry
Company:
Cree Inc.
Parent Company:
Cree Inc.
Subsidy Source:
federal
State in Which Facility Is Located:
North Carolina
City:
Durham
Project Description:
Cree Inc. was selected for a $30 million 48C Advanced Energy Manufacturing Tax Credit to expand the company's manufacturing footprint in Durham, N.C., and Racine, Wis., where it produces energy-conserving lighting technologies. The expansion includes the purchase, installation and proprietary modification of new machinery that will allow Cree to produce 304 million next generation LED lighting systems. With this project, Cree is taking the next step toward its goal of making traditional lighting products obsolete through the use of advanced LED technology with significant estimated annual energy savings.
Year:
2013
Major Industry of Parent:
miscellaneous manufacturing
Specific Industry of Parent:
lighting equipment
Subsidy Value:
$30,000,000
Program Name:
Advanced Energy Manufacturing Tax Credit (48C Program)
Awarding Agency:
Energy Department
Type of Subsidy:
federal allocated tax credit
Source of Data:
Attachment to December 12, 2013 Energy Department press release: http://energy.gov/sites/prod/files/2013/12/f5/48C%20Phase%20II%20Selecti...
Notes:
Year is year credit approval was announced.
Source Notes:
If an online information source is not working, check the Tracker inventory page for an updated link.
