SEMCORP makes separator film used within lithium-ion batteries. The company’s main focus is within the EV (electric vehicle) battery market, with business also in consumer electronics and energy storage systems, the state said.
Today, Ohio is competing with Texas for the jobs, an Ohio description of the project said. Either site would be the company’s first North American manufacturing presence.
The Ohio Tax Credit Authority approved a 2.095%, 15-year job creation tax credit for this project, the state said.
A department spokesman put the value of the credit at $22.67 million, noting that is an estimated value if all elements of the hoped-for project approved by the Tax Credit Authority are met. These are not actual tax credits, the spokesman cautioned. The job creation tax credit is a performance-based credit, the state says.
Sidney City Manager Andrew Bowsher said he believes the company’s first choice is Ohio. But that decision depends on all the incentives falling into place. “There are no promises in economic development,” Bowsher said.
The company would build on 260 acres at the Sidney Industrial Park, he said. Ideally, the plant would be open by 2023.
The Sidney Board of Education last week approved a 15-year, 75% tax abatement for the company, which Bowsher expects the city to pass, as well.
Shanghai Energy New Materials Technology Co., Ltd. (SEMCORP) produces base films for lithium-ion secondary batteries, to manufacture solvent-based coating separators used in such batteries in electric vehicles.
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