Plastics company to establish North American headquarters in Midland

A plastics company is receiving millions in state tax credits as an incentive to establish its North American headquarters in Midland.

Styron, a spin-off of the Dow Chemical Company, will receive $4 million in tax credits over a seven-year period to establish its $13 million operating center in Midland. The Michigan Economic Growth Authority (MEGA) Board announced the tax credit last week.

The project is expected to preserve up to 690 jobs, including about 200 at the company, according to the Michigan Economic Development Corporation (MEDC). The project also has the potential to preserve an additional 488 indirect jobs as a result of increased economic activity from the project.

In mid-June, Styron became a standalone company independent of Dow, says Catherine Maxey, vice president of public affairs and business intelligence for the company. The company could have established its North American operations anywhere, so the job retention tax credits help keep the jobs in Mid Michigan.

"Styron is very pleased to receive the job retention tax credits from the MEDC," Maxey says. "These credits help us maintain the 180 jobs we have in Michigan today, and to keep us cost-competitive so we can continue to grow."

Styron's Midland location includes the company's production facilities, as well as the research laboratories -- all located within the Dow Chemical Company's Michigan Operations. The facilities produce latex for paper coating, as well as plastics for use in the automotive industry.

The company's manufacturing plants and labs will continue to be based in their current buildings. But office employees soon will move its North American operations to a central location in Downtown Midland. Styron employs about 1,900 worldwide.

Writer: Jenny Cromie
Source: Styron, Catherine Maxey