Michigan Lures $1.6 Billion Battery Factory in Fight for EV Jobs

URLhttps://www.bloomberg.com/news/articles/2022-10-05
SourceBloomberg
Date Published10/05/2022
Author NameGabrielle Coppola
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Next Energy
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):2112
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2024
Capital investment ($):1600
State(s) reshored to:MI
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredlithium-iron phosphate batteries
What domestic positive factors made reshoring more attractive?Automation/technology, Government Incentives
Government Incentive dollar amount:$200 M grant,$36 million loans and tax exemptions
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