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Governor Jennifer M. Granholm announced on Tuesday Michigan’s aggressive film production attraction efforts will create 5,993 new jobs in Michigan, including 4,066 new film, animation and programming jobs. Three companies, Wonderstruck Studios, Motown Motion Pictures and Stardock Systems, plan to invest more than $156 million in Detroit, Pontiac and Plymouth locations. “We are working hard to build a diversified economy and create good-paying jobs in Michigan,” Granholm said. “As a result of our aggressive film incentives we are not only bringing new investment to Michigan, we are laying the foundation for an industry that will support long-term job growth for our citizens.” The three projects announced today are: Wonderstruck Studios LLC – The new venture, to be known as Detroit Center Studios, will produce computer-generated (CG) visual effects and animated content. It plans to invest $85.9 million to create a digital pipeline, used to pull in numerous CG and digital animation projects, in downtown Detroit. The project is expected to create 700 new Michigan jobs, including 413 directly by the company. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $16.9 million over 12 years to help convince the company to expand in Michigan over competing sites in China and Korea. In addition, Infrastructure Development Film and Digital Media incentives totaling $11.7 million have been approved to help support the project. The city of Detroit is considering abatements to support the project. Motown Motion Pictures LLC – The new business venture, which will be both a film studio and a production services company, plans to invest approximately $70 million in a 600,000-square-foot development with nine sound stages in Pontiac. The project is expected to create 5,139 new jobs, including 3,600 directly by the company. Based on the Michigan Economic Development Corporation’s (MEDC) recommendation, the Michigan Economic Growth Authority board (MEGA) approved a state tax credit valued at $101 million over 12 years to help bring the project to Michigan. In addition, Infrastructure Development Film and Digital Media incentives totaling $12.9 million have been approved to help support the project. Job training assistance through the MEDC and Renaissance Zone designation by the city of Pontiac are also under consideration. Stardock Systems Inc. – The software developer and publisher will invest $900,000 to expand at their current location in Plymouth Township to allow for the implementation of a new PC game. The project will create 154 new jobs, including 53 directly by the company. Based on the MEDC’s recommendation, the MEGA board approved a state […]
Even under difficult economic conditions, Munich Airport remains a reliable engine for growth and employment. The three biggest companies at the airport – the Lufthansa Group, the Munich Airport operating company and its subsidiaries (FMG), and the airport security company (SGM) – alone have increased their total workforce by 2,800 to more than 18,300 since the summer of 2006. At the FMG annual press conference on February 3, airport CEO Dr. Michael Kerkloh said, “This shows that the Munich Airport job-generating engine has continued to move full speed ahead during the past two and a half years.” During the past five years nearly 5,000 people have found new jobs with the three biggest companies at Munich Airport. At present approximately 30,000 people are employed at the airport by more than 500 companies and public-sector bodies. This means that the total workforce has more than doubled since the airport opened in May 1992 at its location in the Erdinger Moos region. Moreover, the airport is the region’s biggest provider of vocational training opportunities, with more than 650 apprentices and trainees using tools and manning desks across the entire airport as they gain qualifications in the most diverse range of occupations imaginable. The impact on employment extends far beyond the airport fence: Statistically, every job at the airport generates up to two additional jobs outside the airport with suppliers, maintenance companies and other airport-related businesses. Just as significant are the airport’s so-called catalytic effects as an infrastructure facility, in other words its impact on the region and the economy: According to a new study by the European Center for Aviation Development in Darmstadt (ECAD), for instance, the excellent flight connections were an important or very important factor for 88 percent of the international companies in the airport region when selecting their location. Consequently, the surveyed companies stated that they welcome the planned capacity expansion in the form of a third runway, which 82 percent of the respondents believe is linked to a boost in regional competitiveness and economic development. Another example from the ECAD study: The purchasing power of the foreign guests arriving by air secures 44,000 jobs in the Munich Region alone. Especially in the difficult economic situation at present, Kerkloh sees the airport expansion as a key cornerstone for ensuring that the airport can remain a reliable partner in the employment market. “As the results of the study once again make very clear, the expansion of Munich Airport is not a matter of growth for growth’s sake. It benefits the […]
A whistleblower tells Congress that the Securities and Exchange Commission ignored his warnings about Bernie Madoff for nine years.
The Greensboro Economic Development Alliance just announced a significant expansion by ConvaTec, a global medical device manufacturer and long-time Greensboro employer. The company will expand its ostomy wafer line and attract a new ostomy pouch operation to its 211 American Avenue plant. ConvaTec plans to hire 30 machine operators and mechanics at an average wage of more than $44,000 per year. The company will convert warehouse space to manufacturing, and invest $19.55 million in machinery, equipment and building projects. “As a medical device company, ConvaTec is an important part of our local life sciences industry. Securing this expansion here in Greensboro should help keep the local facility viable and growing for the longer term,” stated Dan Lynch, president of Greensboro Economic Development Alliance. “By partnering with the local facility and showing local and state support for this project, we were able to convince the company to grow in Greensboro rather than overseas.” Formerly a division of Bristol-Myers Squibb Company, as of August 1, 2008, ConvaTec is owned by Cidron Healthcare Limited. The company focuses on four key business divisions – ostomy care, wound therapeutics, continence and critical care and infusion devices. ConvaTec has received the North Carolina “Star” Certification recognizing that the company is a leader in health and safety. Thomas Brugnoli, ConvaTec plant director and general manager of global manufacturing and supply chain, stated, “We are pleased to announce this expansion and appreciate the community support we received. We are proud of our success in Greensboro over the past 29 years and look forward to the implementation of this state-of-the-art project.” The Greensboro Economic Development Alliance (GEDA) worked closely with ConvaTec representatives throughout the site selection process. GEDA extends special thanks to the Greensboro City Council, the Guilford County Commissioners, the North Carolina Community College System, Duke Energy and the North Carolina Department of Commerce for all of their support for this expansion.
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A new governor’s battle plan to energize a sluggish economy zeroes in on incentives that work and the growth of knowledge-based jobs in the Tarheel State.
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Howard Hanna Moves Real Estate HQ to Cleveland Howard Hanna Real Estate will move the regional headquarters of its 21-county operation in Ohio from Seven Hills to Cleveland. It will consolidate its operations in the downtown Warehouse District at 800 West St. Clair, the former location of recently acquired Realty One. “With the help of Councilman [Joe] Cimperman, the Downtown Cleveland Alliance and the City of Cleveland’s Economic Development Department, we were able to show the unique assets available to businesses that made Downtown Cleveland the location of choice for the company,” Cleveland Mayor Frank Jackson says. The city will provide to Howard Hanna an Urban Development Action Grant loan in the amount of $250,000, distributed over three years and likely turned into a grant if all loan conditions are met, including maintenance of employment levels. According to Howard Hanna executives, about 100 Seven Hills employees will join about 55 former Realty One employees downtown. More hiring is expected and the employment level will likely reach 200. Howard W. Hanna IV, president of Howard Hanna Ohio, said that in addition to taking over Realty One’s 25,000-square-foot office space, the company plans to lease another 5,000 square feet in the building to accommodate more staff. He said the company is making a “significant” investment into the property, above the loan amount, but did not provide a figure. “The decision to place our Ohio headquarters in the city solidifies our commitment to the region and Cleveland, which is one of the nation’s largest major urban centers,” Hanna says. “Before we entered the Ohio market in 2003, we were impressed by the vitality of Cleveland as a world-class city that offers outstanding quality of life and has an unlimited potential for business growth. That impression is not only lasting, it is deepened.” Howard Hanna Real Estate Services, with corporate headquarters in Pittsburgh, PA, is the fifth-largest full service real estate company and the third-largest privately held real estate firm in the United States. In a period of nearly six years, the company has acquired eight other real estate brokerages and expanded services to include insurance, mortgage options, title and escrow. It is estimated that the brokerage’s move will generate more than $1 million annually for the local economy. Howard Hanna says it expects downtown to grow in the next decade, with a resurgence of high-density, mixed used-urban developments. West Chester Medical Center Opening in May West Chester Medical Center, which broke ground in West Chester, OH in July 2006, is scheduled to open […]