Tag Archives: Michigan Economic Development Corp.

State Support OK’d For Business Expansions, Flint Incubator

LANSING — The Michigan Strategic Fund has approved three grants to create a new business incubator in Flint and build new manufacturing plants in the Grand Rapids area and Port Huron.

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Study Shows Pure Michigan Campaign Driving Travel

LANSING — The award-winning Pure Michigan advertising campaign continues to drive travel and spending to Michigan from out-of-state visitors and to improve the image of Michigan as a regional and national leisure travel destination, according to a new report.

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Third class of ‘Hacker Fellows’ to interview with startups at LTU’s Detroit Center

DETROIT — Hacker Fellows, a program of Invest Detroit Ventures, has began to match its 2017 class of 15 young software developers to early-stage, tech-based companies in Michigan.

Having completed the Hacker Fellows year-long fellowship program, these 15 developers are soon to be hired full-time by Michigan startups, advancing Michigan’s tech ecosystem, and furthering the mission of retention of talented graduates of Michigan’s universities.

Thanks to the recent financial support of the Michigan Economic Development Corp. (MEDC), the Community Foundation of Southeast Michigan (CFSEM), and the Ford Motor Co. Fund, Hacker Fellows is soon to kick off its third year of training, mentoring and supporting recent graduates in launching successful careers with startups.

hacker-fellows

“The importance of developing our technology talent in the region cannot be understated. The Hacker Fellows program is a critical to this effort,” said Don Jones, associate director at CFSEM, which recently committed an additional $550,000 in funding to Hacker Fellows over two years.

On Friday, April 7 from 9 a.m. to 6 p.m., Hacker Fellows has invited its 15 current fellows to in-person interviews with more than 30 startups from across the state. Each fellow will have the opportunity to interview with five to seven companies in hopes of receiving a full-time offer. The interviews will take place at Lawrence Technological University’s Detroit Center for Design + Technology (DCDT), 4219 Woodward Ave.

Once all 15 fellows have received full-time offers, the true Hacker Fellows experience begins in Detroit, with a five-week software and entrepreneurship boot camp at DCDT. Following the five weeks of training, each of the Hacker Fellows goes to work at their paired startup, where they receive a $10,000 to 15,000 grant to boost their first-year salary. Beyond the salary boost, each fellow receives ongoing support from the Invest Detroit Ventures team throughout the year.

“The 2016 Hacker Fellows boot camp focused on front end technologies — specifically Angular JS, Node JS along with HTML and CSS — all technologies I had a strong interest in learning about,” said Jessica Wu, a 2016 Fellow now working for NewFoundry, an Ann Arbor design and software development firm. (The entire 2016 cohort is pictured below.)

2016-hacker-fellows

Added Bradley Hoos, Hacker Fellows executive director: “There’s a huge need for top tech talent in Michigan and it’s been really exciting to see Hacker Fellows become the go-to source for young startup developer talent. The raw talent of our fellows is really impressive and once they are aware of the great things happening in the Michigan startup community, they are choosing to be a part of it. In fact, 13 of our 15 2016 fellows told us that they would have left the state if it weren’t for Hacker Fellows. That’s powerful.”

Hacker Fellows’ goal is to attract and retain top developers in  Michigan and pair these developers with early stage tech startups. In the first two years of the program, more than 70 Michigan startups have engaged with and interviewed Hacker Fellows. All 2015 and 2016 Hacker Fellows accepted positions at Michigan startups, with Fellows joining the program from 14 different universities and working at 21 different Michigan tech startups. Since working with Hacker Fellows, participating startup companies have created more than 160 jobs.

Hacker Fellows is free for participating Fellows and startups thanks to the generous support of sponsors CFSEM, MEDC, and the Ford Motor Co. Fund.

The Hacker Fellows program has an open application period year around, and officials say they’re always interested in interviewing passionate and talented developers. If you’re interested in applying, visit this link.

Visit http://www.hackerfellows.com/matchmaking-introduction/ to hire a Hacker Fellow.

More information at www.hackerfellows.com, including the latest on free and open meetups. Follow Hacker Fellows on Facebook, Twitter and Instagram as well.

Invest Detroit is a certified Community Development Financial Institution and a source of private sector financing which uses a variety of funding tools through managed for-profit and non-profit targeted funds to support economic and community development in underserved communities, primarily in the City of Detroit.

Representing $225 million in funds, committed capital and New Markets Tax Credit allocations, Invest Detroit serves as a platform to meet a broad range of financing needs to support business expansion and real estate development, the creation and retention of jobs, and the revitalization of distressed areas.

Invest Detroit represents the vision of the Board of Directors and management of the Detroit Investment Fund, which was created and funded in 1995 by members of Detroit Renaissance, now known as Business Leaders for Michigan. In 2010, the DIF Board and management team enhanced and transitioned the capabilities of the DIF to create Invest Detroit, which serves as an umbrella entity for the DIF and other for-profit and non-profit managed funds.

State Aid OK’d For $29.8M In Business Expansions

LANSING — Three business expansions that will generate nearly $29.8 million in total investment and create 148 jobs in Michigan have received Michigan Strategic Fund approval for support, the Michigan Economic Development Corp. announced.

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Chinese Auto Firm To Create 150 Jobs In Washtenaw County

ANN ARBOR — A Chinese auto supplier will build a new United States research and development center in Washtenaw County’s Pittsfield Township, state and local economic development officials said.

SF Motors Inc., a subsidiary of the Chinese carmaker and auto supplier Sokon Industry Group, will invest more than $10.7 million in the project, which is projected to create 150 new jobs. SF Motors is based in the San Francisco area.

“Ann Arbor attracts global attention from companies like SF Motors because it’s one of the few places in the world that has a confluence of mobility innovation and talent,” said Paul Krutko, president and CEO of Ann Arbor Spark, the economic development agency for Washtenaw and Livingston counties. “The significant investment that SF Motors is making in the Ann Arbor region is a sign of confidence. The company recognizes that this region can support its long-term growth as it works to bring its electric vehicle technology to market.”

Said SF Motors CEO John Zhang: “Michigan is at the cutting edge of new automotive technologies as well as being an engineering powerhouse and we want to be a part of this great community.”

The Michigan Economic Development Corp. awarded the project a  $1 million Michigan Business Development Program performance-based grant.

“Despite the transformation of the automotive industry in the world, Michigan remains the global center for automotive research and development,” Sokon chairman Xinghai Zhang said. “The establishment of our engineering R&D center in Michigan is an integral part of our global business strategy. We are thankful for the support the State of Michigan has shown us and look forward to working with the local government for years to come.”

More at http://www.AnnArborUSA.org.

Spanish Auto Supplier To Expand In Michigan

LANSING — The Madrid, Spain-based auto supplier Corporación Gestamp will expand its global operations at three Michigan locations, state and local government officials announced this week.

The international supplier of automotive chassis, bumpers, hinges and other components, plans to invest $158 million at its plants in Chelsea and Mason, and an additional $700,000 at its North American headquarters in Troy. A total of 235 jobs will be created at the Chelsea and Mason plants, and another 60 new jobs in Troy.

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Projects to add 1,300 jobs, $157M investment get state aid

LANSING — Projects generating a total capital investment of $157 million and creating more than 1,300 jobs were approved Tuesday by the Michigan Strategic Fund, with efforts including business expansions, community revitalization projects, infrastructure grants for communities around the state and other activities.

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Mitchell Plastics Expanding In Sterling Heights, Adding 122 Jobs

LANSING — The Michigan Strategic Fund has offered Mitchell Plastics a $427,000 Michigan Business Development Program performance-based grant to support a new plant in Sterling Heights that will create 122 jobs.

The 200,000-square-foot plant represents a total investment of more than $20.5 million.

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State Aid OK’d for Business Projects Investing $14M, Adding 211 Jobs

LANSING — Two business expansions – which combined will generate over $14 million in capital investment and create 211 jobs – have received Michigan Strategic Fund approval for support, officials of the Michigan Economic Development Corp. announced.

TecNiq Inc. received a $540,000 Michigan Business Development Program performance-based grant to support a $6.6 million new plant in Kalamazoo County’s Comstock Township that will create 120 new jobs. TecNiq was founded in 2004 by engineers Jeff Condon and Mark Pruss, designs and manufactures energy-efficient LED lighting for fleet vehicles, construction trailers, emergency response vehicles, boats, recreational vehicles, and more. Michigan was chosen over a competing site in Indiana. Comstock Township has offered support to the project in the form of property tax abatement.

Taylor-based Logos Logistics Inc. received a $300,000 Michigan business Development Program performance-based grant to support an $8 million warehouse expansion and new headquarters in Romulus.  Michigan was chosen over competing sites in Alabama, Georgia and Tennessee. VantagePort Detroit Region Aerotropolis is supporting the project with a property tax abatement. For career opportunities with Logos Logistics, visit http://www.logoslogisticsinc.com.

For more on the MEDC and its initiatives, visit michiganbusiness.org. For Michigan travel news, updates and information, visit michigan.org. Michigan residents interested in seeking employment with any of Michigan’s growing companies should check mitalent.org where more than 100,000 jobs are currently available in a variety of industries.

Next Michigan designation, business projects gain state apprroval

LANSING — Nearly $85 million in new private investment with up to 878 jobs, and an authorization to the city of Detroit to use incentives to further develop manufacturing and transportation districts, are among projects approved Tuesday by the Michigan Strategic Fund.

The Michigan Economic Development Corp. administers programs on behalf of MSF, and serves as the state’s marketing and business attraction agency.

At Tuesday’s meeting, the MSF board approved:

* City of Detroit–Next Michigan Development Corporation (D-NMDC):  Detroit has received MSF approval as the state’s seventh and final Next Michigan Development Corporation. In ithis role, D-NMDC will seek to attract eligible businesses to key employment districts within the city, which have the greatest potential for growth in the industries of manufacturing, transportation, distribution and logistics. The NMDC designation grants the authority to offer tax incentives such as renaissance zones, real and personal property tax exemptions, and local development financing.

* FEV North America Inc., a subsidiary of German’s FEV Group, received a $1.2 million Michigan Business Development Program performance-based grant to support a $27 million tech center in Auburn Hills that will create 250 new jobs. The company currently employs about 500 people. FEV, founded in 1978 in Germany, is a powertrain and vehicle design engineering company. Michigan was chosen over a competing site in South Carolina. Auburn Hills is offering a property tax abatement in support of the project. Individuals interested in career opportunities with FEV should visit http://www.fev.com/careers/jobs-at-fev.html and select “USA.”

* Holland-based JR Automation Technologies LLC received a $2.2 million Michigan Business Development Program performance-based grant to build a $5.6 million new plant in Holland Township, creating 250 new jobs. JR designs and manufactures automated machinery to the  automotive, medical, pharmaceutical, aerospace, construction, furniture, and food processing industries. Michigan was chosen as a result of a national search. Holland Township has offered support in the form of 12-year property tax abatement. For career opportunities with JR Automation, visit http://www.jrauto.com/Careers.

* The Hazel Park Brownfield Redevelopment Authority received MSF approval of $5,751,200 in local and school tax capture for the redevelopment of approximately 36 acres of land at the Hazel Park Raceway complex. Tri-County Commerce Center LLC plans to construct a 575,000-square-foot building on the site that will be designed to serve industrial tenants. The project is expected to generate $36 million in total capital investment and create 175 full-time equivalent jobs. The tax capture will be used toward the alleviation of brownfield conditions at the site, including demolition activities, lead and asbestos abatement, site preparation, and infrastructure improvements.

* River’s Edge Partners LLC received a $750,000 Michigan Community Revitalization Program performance-based grant to support a $10.4 million project that will convert a former steel fabrication plant and foundry on East Michigan Avenue in downtown Kalamazoo into office and collaborative work-incubator space. The completed project will include offices, retail space, a restaurant, fitness center, collaborative area, and an outdoor terrace facing Portage Creek. The project is expected to create 118 full-time equivalent jobs. In addition, the Kalamazoo Brownfield Redevelopment Authority received MSF approval for $742,930 in local and school tax capture for the project. The funds will be used alleviate brownfield conditions at the site and prepare it for construction, including asbestos removal, demolition, site preparation activities and infrastructure improvements. The Michigan Department of Environmental Quality is also supporting the project with tax increment financing in the amount of $47,030, a grant in the amount of $191,750 and a loan in the amount of $193,935. To view a video on the River’s Edge project, visit this link. https://www.youtube.com/watch?v=svAJ0ouTtHs.

* The city of Adrian was awarded $2,866,446 in Community Development Block Grant funds for the Strongback Four Corners Redevelopment Project in downtown Adrian. Strongback Properties LLC plans to redevelop three historic properties into commercial space, residential rental housing, and parking. The project is expected to generate more than $4.7 million in total capital investment and create eight to 10 full-time equivalent jobs. MSF also approved $392,375 in local and school tax capture for the Adrian Brownfield Redevelopment Authority to alleviate brownfield conditions at the site and prepare it for redevelopment.

* River Parc Place II LLC received a $636,860 Michigan Community Revitalization Program performance-based grant to support a $4 million renovation of an existing four-story building at 80 Washington St. in downtown Manistee into a mixed-use development. Built in 2006 as a residential condominium project, the building was never completed and is considered blighted by the city. Once completed, the building will consist of a mixed-use development with residential rental units and commercial space. The lakefront space will also be renovated to allow lake access boat slips for both public and private use. In addition, Manistee Brownfield Redevelopment Authority received MSF approval for $2,980,685 in local and school tax capture to be used toward alleviation of brownfield conditions at the site as well as six adjacent parcels and prepare them for redevelopment.

MSF also approved the following:

* Michigan Translational Research and Commercialization (MTRAC) Ag Bio Innovation Hub – $1 million in MTRAC funding to Michigan State University to serve as the MTRAC Ag Bio Innovation Hub supporting technology transfer from Michigan’s institutions of higher education, non-profit research centers and hospital systems for the commercialization of competitive edge ag bio technologies.

* Gatekeeper Business Incubator grant – $100,000 to Lawrence Technological University to provide support services and business advice to early stage technology companies in the Southfield and Troy areas.

* Procurement Technical Assistance Center (PTAC) Program grant – $100,000 in funding to the Flint and Genesee Chamber of Commerce PTAC to provide government contracting support to businesses in the city of Flint.

* Private activity bond financing – Approval of an inducement resolution for private activity bond financing of up to $4.5 million for the construction of a new building and acquisition of equipment in Bay County’s Monitor Charter Township for the F.P. Horak Co. and H & J Realty Co. LLC. The project is expected to create up to 71 jobs over a three-year period.

For more on the MEDC and its initiatives, visit michiganbusiness.org. For Michigan travel news, updates and information, visit michigan.org. Michigan residents interested in seeking employment with any of Michigan’s growing companies should check mitalent.org, where more than 99,000 jobs are currently available in a variety of industries.