Suniva Inc. will invest $250 million in a new solar manufacturing facility in Thomas Township, located in Saginaw County, Mich. Suniva will create 500 new jobs over the next five years subject to receiving the Department of Energy loan guarantee for which it has applied, according to the office of Gov. Jennifer Granholm, D-Mich.
The Michigan Economic Growth Authority (MEGA), on Michigan Economic Development Corp.'s recommendation, approved a photovoltaic Michigan Business Tax (MBT) credit valued at $15 million over five years.
Michigan's photovoltaic MBT credit provides a refundable tax credit for the construction and operation of a facility that develops and manufactures photovoltaic technology, photovoltaic systems or photovoltaic energy. Other state and local incentives will be considered at a future date, Granhom adds.
In other recent MEGA action, the board has approved incentives to move forward the Wixom transformation project announced last month. Clairvoyant Energy Solar Panel Manufacturing Inc. was granted a photovoltaic MBT credit valued at $25 million over two years, and Xtreme Power Inc. received an advanced-battery credit valued at $100 million over four years.
SOURCE: Office Of Gov. Jennifer Granholm