MIDLAND, Mich., Feb. 25 (UPI) -- Michigan economic development officials said Dow Kocam MI LLC has committed to a $294 million investment that would bring 320 full-time jobs to the state.
Dow Kokam MI is a joint venture of Dow Chemical Co. and TK Advanced Battery LLC that was formed last year, The Detroit News reported Thursday.
The Michigan Economic Development Corp. confirmed Dow Kokam MI had plans to build a 400,000 square-foot facility in Midland, Mich., for lithium-polymer battery production. The plant is expected to be up and running at full capacity by Feb. 2014, the News said.
The development corporation said the Dow Kokam MI project would receive $3.4 million in business tax abatement on top of $4.3 million in property tax breaks.
"This puts us a step closer to being the first advanced battery facility to break ground in the state," said Dow Kokam MI spokeswoman Kristina Schnepf.