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Foundations Grant $5 Million to NE Ohio

A group of regional foundations and philanthropists voted this week to award more than $5 million in grants to promote economic development in Northeast Ohio. The Fund for Our Economic Future, a collaboration of donors and philanthropists that provides grants to increase the economic competitiveness of Northeast Ohio, met at the Davis Center in Fellows Riverside Gardens to award one-year grants to six Cleve ...

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S. Dakota Leads U.S. in Conversion to Ethanol Pumps

A $1 million grant program will put South Dakota in a leadership position pack nationwide in the availability of ethanol blender pumps for motorists, Lt. Gov. Dennis Daugaard said today. The grants, which were processed through the state Energy Policy Office in the Governor's Office of Economic Development, will help business owners install blender pumps at fuel stations across the state, he said. "As of Ju ...

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Samsung Invests $3.6 Billion in Texas Plant Expansion

Samsung Austin Semiconductor LLC has announced plans to expand the capacity of its 12-inch semiconductor fabrication plant in Austin with a $3.6 billion investment. The expanded fabrication plant, one of the largest in the United States, will produce advanced logic devices for Samsung’s System LSI business. Currently the Austin plant produces a variety of NAND Flash memory chips.  The production of those ch ...

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Tax Credit Saves Nearly 300 Jobs in Iowa

Iowa saved nearly 300 John Deere jobs in Waterloo last week when it granted state tax credits for a massive company reinvestment in its Waterloo Foundry, according to documents Deere filed with the Iowa Department of Economic Development. Deere will get $15 million in tax credits—$9 million investment tax credit and a $6 million Doubled Research Activities Credit—and indirect financing from the state of Iow ...

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$8 Billion in Federal Stimulus Funds Invested in Rail Network

The Obama administration has invested $8 billion in federal stimulus money to create 13 high-speed rail corridors. According to the U.S. Conference of Mayors, some $19 billion of new business and 150,000 jobs will flow to four hub cities—Los Angeles, Chicago, Orlando and Albany, N.Y.—by 2035, where plans for the rail networks are located. The benefits of traveling between 110 and 220 miles per hour will mea ...

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New Plant Coming to Commerce City, CO

Cummins Rocky Mountain has announced plans to build a new diesel engine remanufacturing plant in Commerce City, Colorado creating 70 new jobs for the area. The new facility will remanufacture and distribute a full line of Cummins High Horsepower diesel engines. Construction is anticipated to begin this month. The company will receive about $459,000 in various incentives from the city, including sales and us ...

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St. Johnsonville, NY Needs a Grant

The village of St. Johnsville, in conjunction with the Montgomery County Business Development Center, will apply for a $450,000 Community Development Block Grant to assist M.H. Stallman Company in moving its operations to New York state. If the application is approved by the state Office of Community Renewal, the company will use the funds to purchase equipment and machinery as part of a planned renovation ...

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Stimulus Bonds for Genesee County, MI May Go Unclaimed

Officials in Genesee County, Mi say they have not received any applications for more than $60 million in available federal stimulus bonds. The deadline is today, unless state lawmakers approve an extension to July 1. The low-interest loans were made available in June 2009 to hard-hit communities to help stimulate the economy by making money available for special projects and developments. The deadline to dr ...

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Eberspaecher to Open BMW Parts Plant

Eberspaecher North America plans to open a new automotive facility in Greenville County, SC with an investment of $5 million and the initial creation of 30 jobs to provide exhaust systems for BMW Manufacturing Co’s new X3 sports activity vehicle. The announcement was made Wednesday by the South Carolina Department of Commerce and Greenville Area Development Corp. Plans are to begin full production in August ...

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Nobody’s Perfect

“A man’s errors are his portals of discovery.” – James Joyce   Let’s face it, the past two years have been brutal for the denizens of Detroit. Two of Motown’s mighty Big Three automakers went belly up and nearly sank in the depths of the Great Recession before being rescued by a federal bailout. Detroit became the unofficial unemployment capital of America, bottoming out at nearly 20 percent. The mayor ...

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