Fortescue, an Australian green energy company, has decided to build its advanced production facility in Michigan and Detroit. This is good news for the Milwaukee Junction neighborhood, which will benefit from new jobs and increased economic activity.
The facility, which will be renovated, is located on Piquette Street, just behind the Ford Piquette Plant museum and the housing redevelopment led by Platform. Additionally, the nearby Fisher Body 21 project will bring over 400 new housing units.
As part of the $35 million project, the Michigan Strategic Fund has approved:
– A $9 million grant under the Michigan Business Development Program based on performance;
– A 15-year tax abatement for basic services valued at $1,300,950;
– A state tax liability of $2,374,413 for revitalization efforts on the property;
– Over $5 million for environmental remediation.
Work in Detroit will start with suppliers from North America, with the intention of expanding to the global market.
“Detroit is an incredibly attractive place for production, due to its skilled workforce, existing supply chains for electric vehicles and clean energy, and strong support from state and local authorities,” said Judith Judson, CEO of Fortescue WAE. “Fortescue is committed to being a valued partner of the government and community, working together with the residents of Detroit.”
The company expects the first battery production line to be installed in the first half of 2025. This is an important step for the economic development of Detroit and the surrounding areas, and a sign that the city is attractive to investors in the renewable energy industry.
FAQ section based on the main topics and information presented in the article:
1. Where does Fortescue plan to build its advanced production facility?
Fortescue plans to build its advanced production facility in Michigan and Detroit.
2. How can this impact the Milwaukee Junction neighborhood?
The construction of Fortescue’s advanced production facility will contribute to creating new jobs and increasing economic activity in the Milwaukee Junction neighborhood.
3. Where is the facility that will be renovated located?
The facility that will be renovated is located on Piquette Street, just behind the Ford Piquette Plant museum.
4. What other projects are nearby?
Nearby, there is the Fisher Body 21 project, which will bring over 400 new housing units.
5. What support did Fortescue receive from the Michigan Strategic Fund?
Fortescue received a $9 million grant from the Michigan Business Development Program, a 15-year tax abatement for basic services valued at $1,300,950, and a $2,374,413 tax liability for revitalization efforts on the property. Additionally, over $5 million was requested for environmental remediation.
6. When will work begin in Detroit?
Work in Detroit will start with suppliers from North America, with the intention of expanding to the global market.
7. When does the company expect the first battery production line to be installed?
The company expects the first battery production line to be installed in the first half of 2025.
Definitions of key terms and jargon:
1. Michigan Strategic Fund – An organization involved in economic investments in the state of Michigan.
2. Michigan Business Development Program – A program offering grants and tax incentives to companies investing in business development in Michigan.
3. Environmental remediation – The process of cleaning up an environment contaminated with harmful substances.
Proposed related links to the main domain (without subpages):
1. Fortescue’s homepage
2. Official website of the state of Michigan
3. Official website of the city of Detroit
The source of the article is from the blog motopaddock.nl