Dow is one of Michigan’s oldest companies, having been around since 1897. It's also among the largest. Now, the state’s Michigan Strategic Fund (MSF) is giving Dow $120 million in an effort to keep jobs with the company in the state.
The Michigan Economic Development Corporation announced that grant and some tax exemptions Tuesday, saying it will help the company update its Michigan Operations Industrial Park in Midland and its Auburn Operations in nearby Williams Charter Township. Dow says the total it's spending on the projects is about $785 million.
In a statement, Governor Gretchen Whitmer said the state's $120 million investment will help protect 5,000 good-paying jobs.
“This project invests in people and ensures we are home to cutting-edge R&D facilities,” Whitmer said.
Dow’s director of state government affairs, Jeff Stoutenburg, noted, in making the case for the grant, that the company participates in many market segments and supply chains including areas like electric vehicles and battery components — a priority in Michigan’s automotive transition to clean energy.
“Modernizing our manufacturing and R&D asset will serve as an anchor, ensuring the Great Lakes Bay Region and the State of Michigan remains the home for thousands of high-paying jobs that far exceed the regional and statewide median wage,” Stoutenburg said.
