Cree Inc. will receive $30 million in federal tax credits to expand its manufacturing footprint in Racine County as well as in Durham, N.C., the U.S. Department of Energy said Thursday.
The company’s expansion includes the purchase, installation and modification of new machinery that will allow Cree to produce advanced 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 savings,” the agency said.
Cree, based in North Carolina, acquired Wisconsin-based Ruud Lighting and its BetaLED division in a 2011 acquisition. Several months later, the company announced plans for an expansion of its Sturtevant factory and distribution center.
The tax credits were part of $150 million in advanced energy manufacturing tax credits announced Thursday.