ENTEK, a company in the electric vehicle (EV) industry, has started the construction of a $1.5 billion lithium separator facility in Vigo County, Indiana. This facility is the largest global investment by the company, and it is expected to create 650 “family wage” jobs by the end of 2027. ENTEK received incentive funding from the federal government under the Bipartisan Infrastructure Act, and Indiana also provided $13.7 million in incentives to secure the project.
Indiana has been making efforts to support the EV industry by focusing on battery manufacturing and related components. The Indiana Economic Development Corp. has selected six projects, including the ENTEK facility, to receive a total of $332.4 million in performance-based tax incentives, grants, and payments. One significant incentive package worth $165.5 million in tax credits, grants, and loans was given for the construction of the StarPlus Energy Facility, which will employ 1,400 workers.
While these incentive packages do face resistance and controversy, the commitment of Indiana to support cleaner energy is crucial. Electric vehicles play a significant role in mitigating the effects of climate change, and the federal government’s actions have prompted states to provide their own incentives. In the case of Indiana, the efforts to tap into EV development not only contribute to saving the planet but also help preserve jobs in the auto industry, which has been a significant part of the state’s economy.
To remain competitive, Indiana must continue to offer attractive incentives to attract battery and component plants related to EVs. Other states are also offering similar benefits, making it necessary for Indiana to stay in the game. The commitment to developing the EV supply chain is essential for the Hoosier economy’s growth and sustainability.
Sources:
– The (Terre Haute) Tribune-Star