SK Siltron CSS, a subsidiary of SK Siltron, a South Korean SK Group operating company and semiconductor wafer manufacturer, plans to set up a new manufacturing/R&D facility in Monitor Township, Michigan. The $302 million project is expected to create 150 jobs.
According to state officials, the company is acquiring and rehabilitating a facility near Bay City. The investment is supported by a $1.5 million performance-based grant from the Michigan Business Development Program.
“The growth of electric vehicles opens an exciting new chapter for the automotive industry as it provides consumers with more environmentally friendly transportation options,” said Jianwei Dong, CEO of 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 needed to support the next generation of electric vehicles, ensuring Michigan remains the automotive hub of the world.”
Michigan’s Strategic Fund also approved a 15-year state essential services assessment exemption worth $4.4 million. The Township of Monitor is considering a property tax reduction in support of the project, and the MEDC has approved a state school tax reduction to be used in conjunction with the local reduction.
“SK Siltron’s high-level commitment provides further proof that Michigan remains a place where high-tech talent needs can be met and technology companies can grow, and we thank the company for its vote of confidence. to our state and our workforce,” Quentin said. Messer, Jr., CEO of the Michigan Economic Development Corporation (MEDC) and President and Chairman of the Michigan Strategic Fund. “The company’s investment in Michigan is a clear example of how major attraction projects are finding growth opportunities in the state, underscoring Michigan’s leadership position in electric vehicle R&D and manufacturing. .”
Bay Future, Inc. worked with the company and the MEDC throughout the process, providing staff time and resources to coordinate site selection activities, identify and bring local resources and resource partners to the tables, and more.
“SK Siltron CSS is a world-class high-tech company that could have chosen to invest anywhere in the world. We appreciate that they decided to invest here in Bay County. Our community, our region and our state have a long history of manufacturing, particularly in the automotive industry,” said Trevor Keyes, President and CEO of Bay Future, Inc. “This investment represents the future of this foundation where ingenuity and know-how will propel an engine of innovation and technology. We are pleased and grateful to have had the opportunity to work closely with MSF, MEDC and SK Siltron CSS to secure this important capital investment and new job-creating project.