Lansing, Mich. – The Michigan Strategic Fund
today approved two significant investments that will advance Flint’s economy
and help make Michigan a mobility leader, Gov. Rick Snyder said.
The MSF board approved funding to support C3
Venture’s creation of a $9.68 million private manufacturing investment in the
city of Flint to produce interior plastic automotive components along with injection
molding and tooling.
“The investment approved today will bring up to
400 new jobs to Flint, in an innovative venture that turns recycling into auto
parts,” said Gov. Rick Snyder. “The state will continue to support the city
during its water recovery, and in addition will remain involved in long-term
economic development. I’m very pleased to see this manufacturing plant
established within the city, and hope it is the first of many new employers to
invest in Flint.”
After a review of competing locations in Indiana and California, C3 Venture
chose Flint for its investment, which will include the hiring of 380 workers.
MSF will provide a $5.7 million performance-based loan to the company, which
may be converted to a grant if the company meets job-creation milestones.
The state’s efforts to become a leader in the
mobility industry also moved forward today, with a $17 million investment approved
for the American Center for
The investment will finalize the acquisition of land at Willow Run, assist with
operations, and facilitate the design and construction of phase one of a
state-of-the-art global center for research, development and testing for
“We are making a major commitment to the next
chapter of the state’s legendary automotive history,” Snyder said. “In the next
decade, Michigan will be in the international forefront in responding to the
challenge to reimagine transportation, an unfolding world of autonomous
vehicles that requires collaboration among private industry, academia and
The investment includes design and certain construction
costs and operations that are part of the project’s high speed track, the first
phase of development. The latest funding comes after a $1.2 million purchase
agreement was reached on July 5, 2016 between the Willow Run Arsenal of
Democracy Landholdings Limited Partnership and Racer Properties LLC, wholly
owned by the Revitalizing Auto Communities Environmental Response Trust (RACER).
The project is a collaboration with many state
and local partners including the Michigan Economic Development Corporation, the
Michigan Department of Environmental Quality, and the Michigan Department of
More information on the American Center for
Mobility can be found at www.acmwillowrun.org.To learn more about the
future of mobility and why it’s important to Michigan, visit here: https://youtu.be/EkxOWjyuOZ0.