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I think that the programs were company required--not company specific. In other words, the company only hired people who graduated from the programs for certain positions, but the subject matter was not exclusive to the company.
There were two programs that the company used: A certificate program in Chemical Process Technology, and an A.A.S. in Chemical Engineering Technology. Although both may have had some sort of components tailored to Hemlock Semiconductor (considering that there is a building named for Hemlock on APSU's campus), it's unlikely that any student achieving either the certificate or the degree, wasted their time and effort.
The local demand for graduates of those programs may be less than the local jobs requiring them, but the certificate and degree should both be portable to other companies.
This isn't the first I've heard of such an arrangement and it's probably more common than people realize. Six years ago, my father was being laid off from a local pharmaceutical company and heard of a "fast track" software development program through a community college in SW VA near where a major IT consulting firm was insourcing some software development operations.
The program was free to the students and the company had the program tailored to its needs and was supposed to hire the graduates as junior level developers. Out of a class of around thirty, only two were immediately hired as developers. As far as my dad knows, most of those graduates were never hired.