There have been some recent developments in the mid-Michigan business scene that you might have missed. McLaren Bay Region has undergone leadership changes, while a new Popeyes restaurant is set to open soon.
A loan of $544 million has the potential to elevate the Bay City plant to one of the top five manufacturers of silicon carbide wafers in the world.
On Thursday, February 22, officials from the U.S. Department of Energy’s Loan Programs Office made an exciting announcement. They have given a conditional commitment to SK Siltron CSS in Bay City for a loan of $544 million. This loan is intended to support the expansion of American manufacturing for high-quality silicon carbide wafers, specifically for electric vehicle power electronics.
The SK Siltron CSS facility located at 1311 Straits Drive in Bay City is projected to generate approximately 200 construction jobs during the build-out phase and another 200 well-compensated operations jobs once it reaches full production.
According to a news release from the U.S. Department of Energy’s Loan Programs Office, the facility is expected to become one of the top-five manufacturers of silicon carbide (SiC) wafers worldwide. This development will not only enhance America’s manufacturing competitiveness but also contribute to the country’s global leadership in clean energy technologies.
