State funding will assist Corning Inc. with new project, improve local economy
LANSING, Mich. (February 27, 2024) — Today, Sen. Kristen McDonald Rivet (D-Bay City) applauded the announcement that Corning Incorporated has chosen Michigan for a new manufacturing facility in Richland Township in Saginaw County with an investment of up to $900 million. The facility will manufacture solar components, meeting the sharp rise in demand for solar power while creating good-paying jobs that put Michigan on track to achieve a greener, more sustainable future.
The project received a grant from the Michigan Strategic Fund as part of funding Sen. McDonald Rivet approved last year as a member of the Senate Appropriations Committee. Sen. McDonald Rivet has also played a key role in introducing and passing several bills to promote solar and other clean energy sources in Michigan.
“This tremendous win for mid-Michigan families and our local economy is no coincidence. 1,100 high-paying jobs are coming here because Corning sees Michigan’s commitment to growing clean energy and our region’s success in advanced manufacturing,” said Sen. McDonald Rivet. “It’s a massive investment, and I’m elated for the positive impact it will have on our families now and for decades to come.”
The project is expected to create over 1,100 jobs, with starting wages expected to exceed the median wage for the region. Additionally, employees will receive a comprehensive benefits package.
To support the project, the Michigan Strategic Fund approved the following:
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A $68 million performance-based Critical Industries Program (CIP) grant through the Strategic Outreach and Reserve Fund (SOAR).
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A 15-Year State Essential Services Assessment Exemption valued at $12.3 million.
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A $29 million Strategic Site Readiness Program (SSRP) grant to Thomas Township for public infrastructure, road improvements and related expenses.
SSRP funds are administered by MEDC on behalf of the Michigan Strategic Fund, including a $100 million allocation for strategic sites where an end-user is unknown, which is the funding source for the recently announced grant recommendations. This funding was approved by the Senate and House Appropriations committees last year.
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