Evergreen Solar, Inc.

Evergreen Solar, Inc. is a manufacturer of solar power panels like the one above.

Massachusetts-based Evergreen Solar Inc., a manufacturer of solar power panels, has chosen Midland over a competing site in another state to establish a new facility that will create string for the company's proprietary, low-cost String Ribbon™ wafer technology.

The Michigan Economic Growth Authority (MEGA) board approved a state tax credit valued at $1.8 million over 10 years to win the company's expansion. The City of Midland has approved a 12-year abatement worth $3.9 million to support the project.

The project, pending final permit approval by the Michigan Department of Environmental Quality, is expected to generate approximately $55.2 million in new capital investment and up to 596 new Michigan jobs, including 101 directly by the company over the next five years.

An economic analysis conducted by the MEDC estimates that increased economic activity created by the new facility will create 495 indirect Michigan jobs, in addition to the 101 created directly by the company. The project is expected to generate more than $264 million in personal income for Michigan workers over the life of the tax credit.

"We are very pleased MEGA has approved the tax credit for Evergreen Solar," company Vice President Carl Stegerwald said. "In addition to the incentive package approved by the city of Midland and the receipt of the necessary permits, we are excited about the prospects of locating our new facility in Midland. We have found a very positive environment within which to plan and execute our growth strategies."

The Evergreen Solar project is one of 18 economic development projects the governor announced today. In all, they are expected to create a total of 6,917 Michigan jobs.