A key feature of the MEDC incentives package is a Michigan Economic Growth Authority tax credit, approved by the MEGA board, worth an estimated $24.2 million over 20 years. In addition, the incentives package includes an abatement of the six-mill state education tax for 12 years with a value estimated at $138,000.
Dow has selected Midland for the company's administrative office expansion once the Union Carbide Corp. merger is approved. It is estimated that this expansion will create 479 new jobs, 350 by the company, for Michigan workers.
Once the regulatory approval has been received, the new facility will consolidate various administrative functions from across the US to Midland. Dow plans to spend more than $40 million on the project, including relocation, building, and equipment costs.
The new jobs are related to and contingent upon Dow's pending merger with Union Carbide. The merger is currently undergoing regulatory review with the U.S. Federal Trade Commission, but Dow hopes to receive regulatory approval soon.
"When we announced the merger in August 1999, we also announced that the combined companies would be headquartered in Midland," says Randy Croyle, director of Dow's merger program management office.
The new jobs in Midland are salaried administrative and management jobs in areas such as executive management, finance, human resources, information systems, legal, public affairs, purchasing, and environmental health and safety.
Dow is a science and technology company that provides chemical, plastic and agricultural products and services to many consumer markets. The company operates Michigan facilities in Midland, Southfield, Auburn Hills, Hillsdale, Harbor Beach and Ludington.
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