Site Meter
Home » Archives » MEDC Says MI Projects Yield 7,182 New Jobs

MEDC Says MI Projects Yield 7,182 New Jobs

Michigan Economic Development Corp. is helping 11 companies grow in Michigan and also backing two brownfield redevelopment projects. Combined, the 13 projects are expected to create 7,182 new jobs (2,790 direct and 4,392 indirect), retain 781 total jobs, and generate over $742.4 million in new investment in the state.

The projects include an overseas company launching U. S.  operations in Muskegon Township to research and develop rechargeable batteries; a new-to-Michigan renewable energy, water and telecommunications company planning a new headquarters in Flint; and an expansion in Plymouth Township by a company that specializes in three-dimensional, medical-image processing used to help injured soldiers returning from Iraq and Afghanistan.

“From advanced batteries to homeland security and life sciences to building materials, companies across all industry sectors are choosing Michigan for their growth plans, because our state is a great state in which to do business,” said Gov. Jennifer M. Granholm.

The Michigan Economic Growth Authority (MEGA) board approved incentives for the following projects:

ADCO Products Inc., producer of sealants and adhesives for the roofing, transportation, construction and solar markets, plans to invest $17.3 million to consolidate in Michigan Center and further establish itself in the solar panel industry by making an investment in the photovoltaic panel adhesive market. The project is expected to create 673 new jobs, including 212 directly by the company. The MEDC estimates that the increased economic activity created by the project will create an additional 461 indirect jobs. Based on the MEDC’s recommendation, the MEGA board approved a state tax credit valued at $1.2 million over five years to encourage the company to expand in Michigan over a competing site in Indiana. Leoni Township is considering an abatement in support of the project.

Ash Stevens Inc., provider of life sciences research services, plans to invest $14.9 million in an expansion to address new market segments at its location in Riverview. The project is expected to create 202 new jobs, including 60 directly by the company. The MEDC estimates increased economic activity created by the project will create an additional 142 indirect jobs. Based on the MEDC’s recommendation, the MEGA board approved a state tax credit valued at $710,019 over seven years to help convince the company to locate in Michigan over a competing site in Massachusetts. The city of Riverview is considering local incentives in support of the project.

Fortu PowerCell, developer of rechargeable batteries, plans to invest $623 million in a new integrated battery-cell manufacturing plant in Muskegon Township. The multi-phase project is expected to create 1,971 new jobs, including 726 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 1,245 indirect jobs. Based on the MEDC’s recommendation, the MEGA board approved a state tax credit valued at $12.6 million over 10 years to encourage the company to locate and expand in Michigan. In addition, the company has been approved for a battery cell manufacturing tax credit of $100 million over four years.  Muskegon Township is considering local incentives in support of the project.

Masco Cabinetry Co., manufacturer of kitchen and bath cabinets, plans to invest $20.6 million to establish a new location in Ann Arbor Township to house executive oversight, research and development resources, corporate finance, marketing and IT services. The project is expected to create 686 new jobs, including 250 directly by the company.  The MEDC estimates the increased economic activity created by the project will create an additional 436 indirect jobs. The project also is expected to retain 535 jobs, including 206 directly by the company and an additional 329 spin-off jobs. Based on the MEDC’s recommendation, the MEGA board approved two state tax credits to convince the company to invest in Michigan over a competing site in Ohio — a $7.3 million tax credit over 10 years to encourage the company to create new jobs and a $5.7 million tax credit over 10 years to encourage the company to retain jobs.  Ann Arbor Township is considering an abatement valued at $204,588 in support of the project.

Materialise USA, subsidiary of Belgium-based Materialise NV, a company that specializes in three-dimensional medical image processing, plans to invest $12.5 million in a Plymouth Township location to focus on the market development of software applications used in surgery and other medical applications. The project is expected to create 226 new jobs, including 80 directly by the company. The MEDC estimates increased economic activity created by the project will create an additional 146 indirect jobs. Based on the MEDC’s recommendation, the MEGA board approved a state tax credit valued at $563,119 over seven years to help convince the company to expand in Michigan over a competing site in Indiana. Plymouth Township is considering local incentives to support the project.

Oasis Advanced Engineering Inc., an Auburn Hills-based research and development company specializing in software and embedded electronics for military combat vehicles, plans to invest $7.5 million to expand its research and development capabilities and establish a production capability for switchable vision blocks for current and future force military vehicles and for the design and fabrication of training devices for the Army and National Guard. The project is expected to create 204 jobs, including 100 directly by the company.  The MEDC estimates the increased economic activity created by the project will create an additional 104 indirect jobs. Based on the MEDC’s recommendation, the MEGA board approved a state tax credit valued at $1.4 million over seven years to encourage the company to expand in Michigan over a competing site in Florida. The city of Auburn Hills is considering local incentives to support the project.

Oshkosh Corp., manufacturer of access equipment; commercial, fire, emergency and military vehicles; and vehicle bodies, plans to invest $6.5 million to open a new state-of-the-art technical center in Warren designed to provide advanced systems engineering for Army medium truck fleets. The project is expected to create 396 new jobs, including 190 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 206 indirect jobs. Based on the MEDC’s recommendation, the MEGA board approved a state tax credit valued at $6.4 million over 12 years to encourage the company to expand in Michigan over a competing site in Wisconsin. The city of Warren is considering an abatement to support the project.

RASCO, sustainable development firm, plans to invest $18.5 million to establish a new headquarters to house research and development, engineering and assembly for its Integrated Distributive Utilities Network in Flint. The project is expected to create 1,813 new jobs, including 765 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 1,048 indirect jobs. Based on the MEDC’s recommendation, the MEGA board approved a state tax credit valued at $9.1 million over seven years to encourage the company to expand in Michigan over competing sites in Delaware, New York and Virginia. The city of Flint is considering a 15-year abatement in support of the project.

Recaro North America, designer and manufacturer of high-end mobile seating for the automotive market, plans to invest $6 million to consolidate some of its operations from China to its Auburn Hills plant. The consolidation will expand Recaro’s involvement in its child restraint and OEM business units creating a rare diversification for a Michigan automotive manufacturer. The project is expected to retain 246 new jobs, including 69 directly by the company. The MEDC estimates the increased economic activity created by the project will retain an additional 177 indirect jobs. Based on the MEDC’s recommendation, the MEGA board  approved a state tax credit valued at $519,000 over five years to encourage the company to expand in Michigan. The city of Auburn Hills is considering local incentives in support of the project.

Saab Cars North America, global automaker, plans to invest $2.4 million to establish its North American headquarters in Royal Oak, focusing on marketing, sales and product evaluation. The project is expected to create 158 total jobs, including up to 60 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 98 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $1.2 million over five years to encourage the company to expand in Michigan over a competing site on the East Coast. The city of Royal Oak has approved an abatement valued at $29,000 to support the project.

The MEGA board approved key incentives for Toda America to move a previously announced project forward: a brownfield tax credit valued at $7.9 million as well as a federal contracting Michigan Business Tax credit, which has a projected value of $395,000. Last November, the manufacturer of iron oxide and mixed metal oxide particles used in rechargeable lithium-ion batteries was approved for a state tax credit of $1.6 million over 12 years to encourage the company to invest $70.1 million in a new cathode material manufacturing facility in Battle Creek in support of the lithium-ion battery industry. The two-phase project will, when complete, have the capacity to supply batteries for hundreds of thousands of hybrid electric vehicles and plug-in hybrid electric vehicles. The project is expected to create 148 total jobs, including 57 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 91 indirect jobs. The company has also been awarded a $35-million U.S. Department of Energy grant.

email

About The Author

Number of Entries : 1616

Leave a Comment

© 2014 Business Facilities Magazine | Group C Media | Privacy Policy | Terms Of Use