Michigan MEGA Board announces $330 Million in investments, 8900 potential new jobs (Detroit: credit, hotel)
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Michigan MEGA Board announces $330 Million in investments, 8900 potential new jobs
I'm not giving the credit to Granholm on this one. But good news out of Lansing today:
The 14 projects announced today are:
• Great Lakes Towers LLC – The start-up wind turbine tower manufacturing company is planning to initially invest $19 million to locate its first manufacturing facility in Monroe. The company eventually expects to manufacture more than 500 wind towers each year. The project is expected to create 290 new Michigan jobs, including 152 directly by the company. The Michigan Economic Growth Authority (MEGA) board approved a state tax credit valued at $3.7 million over 10 years to help convince the company to expand in Michigan over a competing site in Ohio. The city of Monroe is considering an abatement and infrastructure improvements to the Port of Monroe to support the project.
• W Industries – The metal fabrication company plans to invest $36 million to expand its operations in Detroit. The expansion will enable the automotive supplier to diversify into the aerospace and defense sectors. The project is expected to create 943 new Michigan jobs, including 501 directly by the company. The MEGA board approved a state tax credit valued at $9.7 million over 10 years to help convince the company to expand in Michigan over a competing site in Texas. Also, through the assistance of the Detroit Economic Growth Corporation (DEGC) on behalf of the city of Detroit, the city of Detroit approved a 12-year property tax abatement to support this 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. The
MEGA board today 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.
• MT Acquisitions LLC d/b/a Models & Tools - The Troy-based aerospace tooling company plans to invest $6.2 million to launch a new high bay facility in Shelby Township, which will support the company’s current aerospace work for both commercial and defense projects. The additional floor space will allow for further investment in expanded machining capabilities, with the added height enabling the company to compete in a very select market for large assembly tooling. The project is expected to create 164 jobs, including 72 directly by the company. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $2 million over 10 years to help convince the company to expand in Michigan over a competing site in Texas. Shelby Township has approved a five-year abatement to support the project.
• Tribal Manufacturing Inc. – The Missouri-based start-up manufacturer of brass machined fittings for the plumbing industry plans to invest $4.6 million to launch new operations in Marshall. The project is expected to create 335 new Michigan jobs, including 193 directly by the company. The MEGA board today approved a state tax credit valued at $3.9 million over seven years to entice the company to choose Michigan over competing sites in Kansas and Missouri. The city of Marshall is considering abatements to support the project.
• Wonderstruck Studios LLC (Detroit Center Studios) – The new venture, as part of Detroit Center Studios, will produce film content with an emphasis on computer-generated (CG) visual effects and animation. It plans to invest $85.9 million to create a digital pipeline, used to pull in numerous film projects, in downtown Detroit. The project is expected to create 700 new Michigan jobs, including 413 directly by the company. 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 India, 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 intends to provide abatements to support the project.
• Atwell-Hicks LLC – The land development consulting firm with a focus on alternative energy and wind power energy production and transmission corridors for wind farms plans to invest $5 million to expand its operations in the Ann Arbor area. The project is expected to create 239 new Michigan jobs, including 131 directly by the company. The MEGA board today approved a state tax credit valued at approximately $1.4 million over seven years to help convince the company to expand in Michigan over a competing site in Tennessee. The city of Ann Arbor and Pittsfield Township have both pledged to support the project with tax abatements or administrative assistance pending a final site decision by the company.
• Greenblendz –The Arizona-based start-up, which designs manufacturing processes for commercial cleaning agents using new nano-technology, plans to invest $795,000 to purchase a vacant chemical manufacturing facility in Auburn Hills where it will develop and manufacture “green” cleaning chemicals, personal care and antimicrobial coatings. The project is expected to create 143 new Michigan jobs, including 47 directly by the company. The MEGA board today approved a state tax credit valued at $11.3 million to help convince the company to expand in Michigan over competing sites in Ohio and North Carolina. The city of Auburn Hills has approved a seven-year abatement to support the project.
• Maverick Industries LLC - The manufacturer of plastic-injection molded components plans to acquire the former Kaneka plant in Blackman Township along with the machinery and equipment in the plant. The company will provide packaging support and manufacturing using advanced materials. The project is expected to create 208 new jobs, including 90 directly by the company and generate $11 million in private investment. The MEGA board today approved a state tax credit valued at $1.2 million over seven years to help convince the company to expand in Michigan over competing sites. Blackman Township has approved a seven-year tax abatement to support the project.
• 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 development
and implementation of a new PC game. The project will create 154 new jobs, including 53 directly by the company. The MEGA board today approved a state tax credit valued at $1.2 million over 10 years to help convince the company to expand in Michigan over competing sites in New York, Seattle, Los Angeles and San Francisco. In addition, Infrastructure Development Film and Digital Media incentives are under consideration and Plymouth Township is considering abatements to support the project.
• City of Livonia – State and local tax capture valued at $6.5 million will support the $60-million redevelopment of the former Livonia Mall. The project will include the demolition of the existing mall building, discarded sewer and water infrastructure, and parking lots. The site will be redeveloped with new construction of approximately 300,000 square feet of retail space including a proposed Wal-Mart. Additional retail space will be constructed as market conditions permit. Site improvements such as new parking lots, landscaping, and private driveways will be included. The project is expected to create up to 486 new jobs.
• Mason County – State and local tax capture valued at $31,350 will support the construction of a new 7,100 square-foot building to house an automotive shop and body/repair shop in place of a vacant and obsolete building on U.S. 10 in Pere Marquette Charter Township. The project, expected to generate $800,000 in new investment and create and retain 11 jobs, will enable the auto shop to expand its operations, and the move from its current location on Pere Marquette Lake will open the waterfront property for new development.
• Washtenaw County – State and local tax capture valued at more than $526,000 will support the redevelopment of the former Michigan Inn site in Ann Arbor into a new multi-use facility. The project includes demolition of the former hotel and site preparation for the new facility. The project is expected to generate $28 million in new investment.
• Washtenaw County – State and local tax capture valued at $86,800 will support the renovation of two functionally obsolete elementary school buildings in Ypsilanti. The renovated buildings will be used as a state-of-the-art printing house and digital photograph production facility. The initial phase of the project is expected to generate $2.8 million in new investment and up to 100 new jobs over the next five years.
“These job-creating company expansions and brownfield redevelopment projects are the result of successful collaboration and teamwork with our economic development partners around the state to bring these projects to Michigan against some very intense national and international competition,” MEDC President and CEO James C. Epolito said.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information on the MEDC’s initiatives and programs, visit the Web site at The Michigan Economic Development Corporation: Welcome to the MEDC.
I'm just sad that there are no West Michigan companies on there, but it's great to see expansion in SE Michigan nonetheless.
You mean that after everyone left complaining about the economy and the state, they would move back from their beloved Carolina's?
LOL! I was just thinking that exact same thing. If they still have their houses on the market they've still got a place to live.
Great news. Hopefully they'll provide a good variety of job levels that will cover all the classes of folks out there. Not just the 4 year degree holders.
Well at a glance a lot of them seem like they will be manufacturing jobs.
Michigan does manufacturing well (I'd argue the best in the world), and there's a turnkey workforce that can be inserted fairly quickly. The trick is to be diversified, with manufactured goods that are hard to reproduce in 3rd world sweat shops.
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