Cree Inc. will receive a $30 million tax credit from the U.S. Department of Energy for expansion of its manufacturing footprint in Racine County and in Durham, N.C.
The 48C Advanced Energy Manufacturing Tax Credit will help Cree manufacture more of its energy-conserving LED lighting.
According to the DOE, Cree will use the funds to buy, install and modify new machinery that will allow it to manufacture 304 million proprietary next-generation LED lighting systems.
“With this project, Cree is taking the next step toward its goal of making traditional lighting products obsolete through the use of advanced LED technology with significant estimated annual energy savings,” the DOE said.
Durham, N.C.-based Cree, which acquired Sturtevant-based Ruud Lighting in August 2011, announced plans in November 2011 to build a $24.5 million, 208,000-square-foot expansion at its Sturtevant facility. The project is expected to create 469 new jobs by 2016.
A Cree spokesperson on Friday said Cree is not releasing any information about either expansion.