Hemlock Plans Up to $1B Michigan investment

Lansing, Mich. -- A solar power technology company says it will invest up to $1 billion in Michigan, creating about 300 jobs.

Hemlock Semiconductor Corp. told the Michigan Economic Growth Authority about its plans Monday morning, and the economic development panel formalized tax breaks for the project.

The company also said it is spending up to $1.2 billion to build a site in Clarksville, Tenn., that eventually will employ up to 900 people.

Hemlock says its total investment could reach $3 billion.

Hemlock is a leading maker of polycrystalline silicon for solar cells and semiconductor chips. The Michigan-based company is a joint venture between Dow Corning Corp. and two Japanese companies, Shin-Etsu Handotai Co. Ltd. and Mitsubishi Materials Corp.

Dow Corning is equally owned by Dow Chemical (DOW Quote) and Corning (GLW Quote).