Fortescue Metals to open $35m advanced manufacturing center in Michigan
Fortescue Metals Group Ltd has declared its expansion into global manufacturing with a significant US$35 million investment to establish an Advanced Manufacturing Center in Michigan, USA. This strategic move is set to bolster the company’s manufacturing capabilities, particularly in producing automotive and heavy industry batteries, hydrogen generators, fast chargers, and electrolysers.
Job Creation and Green Manufacturing at the Forefront
The new facility is expected to generate up to 600 jobs in its initial phase, marking a major step in revitalizing the birthplace of the automotive industry. Executive Chairman and Founder of Fortescue, Dr. Andrew Forrest, emphasized the center’s role in green manufacturing and its contribution to decarbonizing business and heavy industry in the United States.
Fortescue Metals expands with a $35m advanced manufacturing center in Michigan
Inflation Reduction Act Tax Credits to Boost Project
Fortescue’s new manufacturing center stands to gain from the Inflation Reduction Act, particularly with tax credits for Battery Modules, which could amount to up to US$10 per kWh. This benefit highlights the center’s alignment with current incentives promoting sustainable and green technology advancements.
Michigan’s Strategic Advantage for Manufacturing
Mark Hutchinson, CEO of Fortescue Energy, pointed out the attractiveness of Michigan and the United States for manufacturing, citing the skilled workforce, existing supply chain, and significant state and federal government incentives. This new center is expected to leverage these advantages, further solidifying Fortescue’s commitment to innovative and sustainable manufacturing practices.