In “Take Your Poison: Hemlock Semiconductor Demands Costly New Subsidies From Michigan,” Jeff McCourt of Good Jobs First takes a critical look at a $357 million tax break for Hemlock Semiconductor, a joint venture of Dow Corning and two Japanese firms.
The tax break is tied to energy bills pending in the legislature and is intended to reduce energy costs for the silicone “wafer” manufacturing company.
McCourt writes:
Even in Michigan circles favoring lower business tax rates, the company-specific handout has had some critics. The Republican chair of the state Senate finance committee, Nancy Cassis, fears the credit could “put a hole in the state’s budget” and add to the burden of “all companies not as large as Hemlock Semiconductor that are the backbone of our communities.”