Illinois State Incentives Drive Growth in Electric Vehicle and Solar Manufacturing

Strategic Insights -

Illinois has become an attractive location for manufacturers of electric vehicles (EVs) and solar components, with several companies announcing new production facilities or expansions this summer. A 100% solar-powered manufacturing plant for solar and EV components has opened in Southern Illinois, backed by a $4.6 million clean-energy state-incentive package. Manner Polymers, the company behind the plant, aims to build the lowest-cost, highest-quality, and most environmentally sustainable flexible PVC compounding plant in the world. The facility will produce all the electricity it uses, and its construction was supported by a $54 million investment from the company.

Key Takeaways:

  • Manner Polymers' new manufacturing plant in Southern Illinois will produce solar and EV components, utilizing 100% solar power.
  • The plant was made possible by a $4.6 million clean-energy state-incentive package under the Reimagining Energy and Vehicles in Illinois (REV Illinois) program.
  • Manner Polymers invested $54 million in the facility's construction.
  • The REV Illinois incentive package provides tax credits to businesses investing in the development and growth of EVs and other renewable energy products.
  • The program also offers benefits for investments made in underserved or energy transition areas.
  • Richardson Electronics, another company benefiting from REV Illinois, will invest $8.5 million to research and produce next-generation battery energy storage technologies.
  • Pure Lithium received $4.4 million in REV incentives to relocate its operations from Boston to Chicago, expanding its production and manufacturing capabilities.
  • Pure Lithium's investment will enable the production of the first commercially viable lithium metal battery in Illinois, targeting various markets including drones and defense.

Statistics:

  • $4.6 million: Value of the clean-energy state-incentive package supporting Manner Polymers' solar-powered manufacturing plant.
  • $54 million: Manner Polymers' investment in the plant's construction.
  • $8.5 million: Richardson Electronics' investment in research and production of next-generation battery energy storage technologies.
  • $4.4 million: REV incentives awarded to Pure Lithium for relocating its operations to Chicago.
  • $46 million: Pure Lithium's total investment in relocating and expanding its operations in Illinois.
  • 54: Number of new jobs targeted by Richardson Electronics as part of its REV agreement.
  • 190: Number of jobs retained by Richardson Electronics as part of its REV agreement for the entirety of the four-year period.

Sources:

  • Office of Governor JB Pritzker
  • Global Data Point