Tag Archives: Michigan Economic Development Corp.

Exports The Aim Of Michigan Firms At Paris Air Show

LANSING — Business leaders from 10 Michigan companies will travel Tuesday to the International Paris Air Show Le Bourget to meet with prospective partners, distributors and customers with the aim of increasing export opportunities within the aerospace sector.

The seven-day trade mission is led by Automation Alley in partnership with the Michigan Economic Development Corp.’s International Trade Program.

Said MEDC CEO Steve Arwood: “The 10 companies participating in the Michigan Booth at the Paris Air Show exemplify the broad range of manufacturing, engineering, and intellectual talent contributing to the global aerospace supply chain, and this show is an excellent opportunity to showcase those products and technologies.”

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Business expansions gain state aid

LANSING — Three business expansions that will generate more than $40.7 million in total investment and create 349 jobs in Oakland County have received Michigan Strategic Fund approval for support, the Michigan Economic Development Corp. announced.

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Barracuda Networks to invest $2.3 million, create 115 jobs in Ann Arbor

LANSING – Barracuda Networks Inc., the network and data security provider, is expanding in Ann Arbor with support from the Michigan Strategic Fund and Ann Arbor Spark, the Michigan Economic Development Corp. announced. The project will generate a total capital investment of $2.3 million and create 115 new jobs.

Barracuda plans an expansion of its manufacturing operations in Ann Arbor, where it builds computer terminals and peripheral equipment. The project is expected to generate $2.3 million in capital investment and create 115 jobs. As a result, the company has been awarded a $750,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Georgia and California.

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Business Expansions Win State Aid, To Create 203 Jobs

LANSING — An animal health company is expanding in the Kalamazoo area with support from the Michigan Strategic Fund, the Michigan Economic Development Corp. announced.

That expansion, along with four other business expansion projects that also received MSF approval, will generate a total private investment of more than $71.5 million and create 203 jobs in Michigan.

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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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