Dow Receives Large Grant for Job retention
July 24, 2024 2:00AM EDT
Dow Midland (source: Dow)
The State of Michigan has allocated a $120 million grant to Dow Chemical to retain roughly 5,000 jobs in the region.
During its meeting on Tuesday, the Michigan Strategic Fund awarded the grant to Dow to support improvements to the company’s industrial park in Midland as well as its Auburn Operations facility. Dow says it’s working to expand its ability to manufacture materials that go into the creation of electric vehicle batteries. The State has also approved a 15-year State Essential Services Assessment property tax break and a 10-year extension to a Renaissance Zone tax incentive.
Dow agreed to the early termination of a prior tax credit that was meant to help create jobs.