Tag Archives: Michigan Strategic Fund

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.

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.

State Aid OK’d For New Wixom Transmission Plant

LANSING – TREMEC Corp., a manufacturer of vehicle transmissions, plans to establish a new plant in Wixom with support from the Michigan Strategic Fund, the Michigan Economic Development Corp. announced.

The project, which represents the company’s first major manufacturing operation in the United States, is expected to generate $54 million in total investment and support the creation of up to 133 direct Michigan jobs.

TREMEC, an acronym for Transmisiones y Equipos Mecanicos SA de CV, is a subsidiary of Mexico City-based Kuo Group. It has manufacturing plants in Pedro Escobedo and Santiago de Queretaro, Mexico, and a sales, marketing and engineering office in Plymouth.

TREMEC plans to lease and equip a new building in Wixom to house several existing and new activities, including global business development headquarters, a technical support center, an aftermarket business unit and a new advanced automotive transmission production operation. TREMEC is planning to invest approximately $54 million into the U.S. operations, creating 133 jobs. As a result, the project has been awarded a $731,500 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Indiana, Ohio and Mexico. Wixom is offering support to the project in the form of property tax abatement.

Individuals interested in employment opportunities with TREMEC Corporation should visit http://tremec.com/jobs.php.

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.

Four companies to invest $15.6 million, add 366 jobs in Michigan

LANSING – Four business expansions – which combined will generate nearly $15.6 million in total investment and create 366 jobs around the state – have received Michigan Strategic Fund support, the Michigan Economic Development Corp. announced.

The projects are as follows:

* DornerWorks Ltd. received a $200,000 Michigan Business Development Program performance-based grant to support an expansion at its Grand Rapids headquarters, creating 25 engineering jobs and investing $710,000. DornerWorks provides electronic engineering services for the aerospace, medical, automotive, and other industrial markets. The funds will help offset recruitment and training costs for the 25 new jobs. Michigan was chosen over competing sites in Arizona, Ohio, and Wisconsin, where the company has strong customer bases. In addition, other MEDC local partners including The Right Place, West Michigan Works, and the city of Grand Rapids have supported this project with economic and workforce development tools. For information about careers with DornerWorks, visit http://dornerworks.com/careers. “We have been asked by several customers to open additional design and development engineering centers close to their locations, but we are dedicated to West Michigan and we wanted to expand here,” said DornerWorks President and CEO David Dorner. “The Right Place understood our business and the competitive situation we were in. Thanks to their efforts, along with their partners, we are able to continue growing in Grand Rapids.”

* OptiMed Specialty Pharmacy received a $500,000 Michigan Business Development Program performance-based grant to support a new location in Kalamazoo County’s Oshtemo Township, which will generate $1.2 million in capital investment and create 77 new jobs. OptiMed provides personalized medication management and research-based clinical support. OptiMed specializes in caring for individuals with rare and complex conditions such as: immune disorders, rheumatoid arthritis, psoriasis, inflammatory bowel disease, HIV, hepatitis C and multiple sclerosis. Michigan was chosen over competing sites in California and Louisiana due to the area’s economic diversity, broad talent pool, and community support. Southwest Michigan First is supporting the project in the form of staff time and resources. For more information about careers with OptiMed Pharmacy, Inc., visit http://www.optimedspecialtyrx.com/careers. “We are very excited that we have the opportunity to build our national headquarters here, in Kalamazoo, surrounded by the community that has continually inspired and empowered our organization,” said Andrew Reeves, CEO of OptiMed Specialty Pharmacy.

* Shipston Aluminum Technologies (Michigan) Inc. received a $600,000 Michigan Business Development Program performance-based grant to support an expansion in Ottawa County’s Spring Lake Township that will generate $10 million in capital investment and create 114 new jobs. Shipston is a manufacturer of aluminum components for the auto industry. Spring Lake Township is offering support through a property tax amendment related to the project. In addition, other MEDC local partners, The Chamber of Commerce Grand Haven, Spring Lake, Ferrysburg and West Michigan Works, have supported this project with economic and workforce development tools. For more information about careers with Shipston Aluminum Technologies (Michigan) Inc., visit http://www.shipstonaluminumtech.com/careers/.

* Karma Automotive LLC received a $450,000 Michigan Business Development Program performance-based grant to support a new automotive engineering and purchasing office in Troy to support the company’s California-based supply chain activities and automotive production. The office is expected to generate $3.6 million in capital investment and create up to 150 jobs. Karma, a subsidiary of the Chinese auto supplier Wanxiang, designs and manufactures luxury hybrid vehicles. Karma Automotive will debut its first vehicle, the Karma Revero, later this year. Michigan was chosen over a competing site in California. The city of Troy is supporting the project in the form of marketing and promotional assistance. For more information about careers with Karma Automotive, visit https://careers-karmaautomotive.icims.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 should check mitalent.org, where more than 98,000 jobs are currently available in a variety of industries.