A plan by a green technology company to transform a former Ford Motor Co. assembly plant in Michigan into a manufacturing plant took a big step forward last week as the Michigan Economic Growth Authority board approved a $6.3-million tax credit for the project.
Townsend Energy Solutions of Hunt Valley, Md. wants to use the space to manufacture energy-efficient products for fuel-efficient vehicles, smart-grid management applications, and power electronics. The $237-million project is expected to generate up to 875 new jobs over the next five years.
The board also granted two $10-million brownfield tax credits for the redevelopment of the 317-acre site. Plans call for part of the plant to be reused, and the rest to be demolished.