LANSING – State Representative Mike Lahti (D-Hancock) today praised the announcement by Vice President Joe Biden that Michigan Technological University will receive $2.98 million, as part of the $1.36 billion in federal stimulus funding awarded to Michigan for the development and production of advanced batteries to power the next generation of automobiles – creating thousands of jobs for Michigan's highly skilled workers. The move also will position Michigan as a leader in producing the technologies that will help break the nation's dangerous dependence on foreign oil.
"We must prepare our students to be the highly skilled leaders of the 21st century workforce," Lahti said. "This is further evidence that Michigan Tech is an ideal place to encourage the growth of cutting-edge technologies. Our world-class teachers and students will be at the forefront of these advanced automotive technologies that can help break our nation's addiction to foreign oil."
Lahti supported a plan that was signed into law in April that expanded state tax credits for companies involved in advanced battery manufacturing. The plan builds on Michigan's first-in-the-nation tax credits that were signed into law in January. The tax incentives have resulted in more than $2 billion in investments by five world-class advanced battery companies that will create more than 6,600 jobs in Michigan.
Of the 48 grants approved under the stimulus program, 11 are in Michigan.
"With our workforce, Michigan is the perfect place for high-tech manufacturing," Lahti said. "With this funding and our incentives in place, our state will hit the ground running because we have the industrial infrastructure to support advanced technologies. The good-paying jobs that this investment will create are vital to turning our economy around."