Dow to Invest in New Michigan based Innovation Center Supporting New RD Jobs Aligned to US Economic Growth
MIDLAND, Mich. - December 09, 2016 - The Dow Chemical Company (NYSE: DOW) announced today that it will invest in a new, state-of-the-art innovation center in Midland, Michigan. The innovation center will support approximately 200 research and development jobs in Michigan, including 100 newly created jobs while repatriating 100 jobs from other Dow facilities throughout the globe to Midland. Dow’s Chairman and Chief Executive Officer Andrew Liveris announced the investment at a Friday event with U.S. President-elect Donald J. Trump in Grand Rapids, Michigan.
“This innovation center will add to Dow’s world-class R&D engine, and could have been located anywhere in the world,” said Liveris. “We chose Michigan, our home for more than 119 years because of the highly-skilled workforce in the state and because we believe the incoming Presidential administration understands the importance of R&D investment and its multiplier impact on U.S. manufacturing jobs.”
The new Dow innovation center will be focused on combining existing chemistries with new technologies derived from its recent ownership restructuring of Dow Corning’s Silicones business, as well as future technologies. The center will house scientists and engineers who will focus R&D efforts on advancing technologies for home and personal care products, enhancing and broadening Dow’s energy-saving building technologies, advancing materials for critical infrastructure, and driving closer partnerships with automakers as they drive further efforts to light-weight automobiles and develop hybrid, electric and autonomous transportation solutions.
“We have some of the smartest, most creative people in the world working with chemistries that can help solve the world’s most pressing challenges – from clean water scarcity to the preservation of food to energy and the environment. Dow is uniquely positioned to invent the products that will define the solutions of tomorrow – and then ultimately, to manufacture those solutions right here in the U.S.,” said Liveris.
The Dow innovation center investment serves as the latest example of Dow’s long-term commitment to investing and growing in Michigan’s Great Lakes Bay Region. In the last 10 years, Dow and its regional development partners, have driven more than $400 million of investment and downtown economic redevelopment in the Great Lakes Bay Region, home to the company and its nearly 13,000 employees and contractors. Investments include nearly 1 billion sq. ft. of real estate, including a new global headquarters scheduled to open in 2017; a new regional airport; a world class hotel and other accommodations; new, cutting edge STEM schools that are developing the next generation of chemists, biologists, and physicists; and more.
Dow has created more than 6,000 jobs in the United States in the last four years, with a significant portion of that job creation resulting from manufacturing investments in the U.S. Gulf Coast, where Dow is currently investing more than $6 billion, which will result in approximately 500 new Dow jobs while employing approximately 7,000 workers during peak construction and ultimately supporting more than 3,500 jobs in the broader U.S. economy.
Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from material, polymer, chemical and biological science to help address many of the world's most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow's integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture. In 2015, Dow had annual sales of nearly $49 billion and employed approximately 49,000 people worldwide. The Company's more than 6,000 product families are manufactured at 179 sites in 35 countries across the globe. On June 1, 2016, Dow became the 100 percent owner of Dow Corning Corporation’s silicones business, a global company with sales of greater than $4.5 billion in 2015, 25 manufacturing sites in 9 countries and approximately 10,000 employees worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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