 |
|
|
|||||||||
|
|
|||||||||||
|
ilumisys Receives Tax Credit from Michigan Economic Development Corporation to Ramp-up Manufacturing
January 21, 2010... Michigan Economic Development Corporation is reportedly giving ilumisys, a $4 million tax credit to expand research and development of LED lighting technology and ramp-up manufacturing operations in Michigan.
ilumisys, a maker of LED-based Fluorescent replacement and other LED lights based in Troy, Michigan USA, also plans to investment of $7.4 million. ilumisys expects to create 213 new jobs within the company and an additional 342 new jobs throughout the state through the increased economic activity created by the project.
"Michigan is in a position to become a global leader in solid-state lighting manufacturing, research and development and it is our intention to keep and foster the growth of this industry right here in our home state," said Greg Main, President and CEO, MEDC. "Companies like ilumisys and organizations like the newly-formed Michigan Solid-State Lighting Association are proof that Michigan is poised for growth in this industry."
Recently, Michigan businesses won $242 million in Advanced Energy Manufacturing tax credits as part of a White House effort to create 17,000 green manufacturing technology jobs through a $2.3 billion tax credit. ilumisys was also granted $1.3 million in tax credits from this effort to automate production of LED replacements for fluorescent lights.
"The support from the State of Michigan combined with our recent federal tax credit award will help ilumisys ramp-up our manufacturing efforts right here in Michigan," said Dave Simon, president of ilumisys. "We are sincerely appreciative of the MEDC's efforts to secure this funding, which is a key component to growing manufacturing and leveraging the innovation and intellectual property in the state." ilumisys News Release
Source/Type: Solid State Lighting Design LED Lighting News - News - Staff reports See the Current Industry News Summary
|
| All site format, content and technology
copyright 2006-2008 by Veriphos Communications under license Reproduction, in whole or part, by other than authorized clients, is prohibited. Commercial search engines are authorized for all site links. Links for any other commercial purpose are limited to the home and events pages unless you are a client of Solid State Lighting Design. Static links to news articles, suitable for search engines and newsfeeds (attribution required for use in news feeds), can be found at http://www.solidstatelightingdesign.com/news/searcharchive/. |