A Chinese battery materials company that pledged to create nearly 1,200 jobs and invest $916 million in Ohio has lost state tax incentives after falling short of its commitments.
In 2022, Ohio officials and the city of Sidney welcomed the arrival of Chinese company Semcorp Advanced Materials Group. The company pledged that its U.S. subsidiary, Semcorp Manufacturing USA LLC (Semcorp), would invest about $916 million in the area and create as many as 1,199 jobs by 2027.
Semcorp is one of the largest producers of lithium battery separators and was among the first companies in China’s battery supply chain to expand overseas. Battery separators are a key component used in electric vehicles, energy storage systems, and consumer electronics batteries….