Tag Archives: Michigan Strategic Fund

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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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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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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Borg Warner Expansion Gets State Aid

LANSING — An expansion in Auburn Hills by the auto supplier BorgWarner will get state financial support.

BorgWarner is planning to expand its existing operations in the Oakland County community, investing $27 million in new plant and equipment and creating 76 new jobs.

As a result, the Michigan Strategic Fund board approved a $750,000 Michigan Business Development Program performance-based grant.

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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.