SK Siltron CSS Plans Monitor Township, Michigan, Silicon Carbide Wafer Plant
According to state officials, the company is acquiring and rehabilitating a facility near Bay City. The investment is supported by a $1.5 million Michigan Business Development Program performance-based grant.
“The growth of electric vehicles is opening an exciting new chapter for the auto industry as it provides consumers with more environmentally friendly transportation options,” said Jianwei Dong, CEO for SK Siltron CSS. “SK Siltron CSS is proud to partner with the State of Michigan to build the supply chain and create the skilled jobs required to support the next generation of EVs, ensuring Michigan remains the automotive center of the world.”
The Michigan Strategic Fund also approved a 15-year State Essential Services Assessment exemption valued at $4.4 million. Monitor Township is considering a property tax abatement in support of the project, and MEDC approved a State Education Tax abatement to be used in conjunction with the local abatement.
“SK Siltron’s high-profile commitment provides further evidence that Michigan remains a place where high-tech talent needs can be met and tech companies can grow, and we thank the company for its vote of confidence in our state and our workforce,” said Quentin Messer, Jr., CEO of the Michigan Economic Development Corporation (MEDC) and President and Chair of the Michigan Strategic Fund. “The company’s investment in Michigan is a clear example of how top attraction projects are finding opportunities to grow in the state underscoring Michigan’s leadership position in electric vehicle R&D and manufacturing.”
Bay Future, Inc. has worked with the company and the MEDC throughout the process offering staff time and resources in coordinating site selection activities, identifying and bringing local resources and resource partners to the table, and more.
“SK Siltron CSS is a world class, high tech, company that could have chosen to invest anywhere in the world. We are appreciative that they decided to chose to invest here in Bay County. Our community, region, and state have a storied history of manufacturing, specifically in the automotive industry,” said Bay Future, Inc. President and CEO Trevor Keyes. “This investment represents the future of that foundation where ingenuity and know-how will drive an engine of innovation and technology. We are pleased and thankful for having had the opportunity to work closely with the MSF, the MEDC, and SK Siltron CSS to secure this significant capital investment and new job creating project.”
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