Wednesday, September 21, 2016
LANSING, Mich. – Two business expansions and one community improvement project that will generate nearly $20 million in total private investment and create or retain 170 jobs have received Michigan Strategic Fund approval for support, the Michigan Economic Development Corporation announced today.
“Today’s projects demonstrate that we’re committed to sparking business growth, revitalizing communities and creating more and better jobs for Michiganders around the state,” MEDC Chief Executive Officer Steve Arwood said. “We’re especially pleased to support the growth of U.P. Papers, which brings more jobs and economic growth for Manistique and the entire area.”
Yen Group, LLC is a newly established entity that will focus on fulfilling purchase orders of engine blocks, heads and other engine components for customers that have requirements that are consistent with its business objectives, including its partner company in Indiana. Yen Group plans to reopen a closed manufacturing facility in the city of Port Huron, investing more than $10.2 million and creating 80 jobs. As a result of the expansion, the project has been awarded a $400,000 Michigan Business Development Program performance-based grant. Michigan was chosen over the partner site in Indiana.
“We are pleased to announce the launch of Yen Group, LLC in Port Huron, Michigan. Our goal is simple, to restore the operations that once thrived in this facility and create new job growth for the community. Our employees at Yen Group are our most important assets and we look forward to creating a world class manufacturing foundation with them,” said Yen Group President David Yen. “Our initiative to retain manufacturing jobs in the U.S. and the technical ability of the Michigan work force has driven this decision to launch in Port Huron and we look forward to a very bright future.”
The city of Port Huron has offered to host a job fair in support of the project. Individuals interested in careers with Yen Group should email email@example.com.
“I met with management and employees when the announcement was made that Royal Oak Boring was closing the plant and pledged to do everything we could to get it reopened,” said City of Port Huron Mayor Pauline Repp. “Thanks to our partnership with the Economic Development Alliance and MEDC, today we’re excited to welcome the Yen Group to our community.”
MSF also approved approximately $2 million in collateral support to Fifth Third Bank for the operations of U.P. Paper, LLC, a newly created entity that was formed to operate a previously vacant paper mill production facility in the city of Manistique. The ownership and management teams of U.P. Paper have taken steps to retool and refurbish the facility with the goal of beginning full scale production in the next nine to 12 months. The company plans to specialize in the production of lightweight, 100 percent recycled kraft paper to be used for paper bags and packaging. The project is generating total private investment of $9.3 million and is expected to create 18 jobs and retain 72 existing positions.
The city of Greenville has been awarded $834,631 in Community Development Block Grant funds for the city of Greenville Façade Project. The project will include the historical renovation of six buildings on S. Lafayette in downtown Greenville, making the downtown more viable and bringing increased economic activity to the area. The project is expected to generate total private investment of nearly $309,000. The city of Greenville is contributing $35,000 toward the project.
Pure Michigan is a brand representing business, talent and tourism initiatives across Michigan. These efforts are driven by the Michigan Economic Development Corporation, which serves as the state’s marketing arm and lead advocate for business growth, jobs and opportunity with a focus on helping grow Michigan’s economy.
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 101,000 jobs are currently available in a variety of industries.
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