Thursday, May 18, 2006
Michael Shore, MEDC
Company Will Invest $750,000, Create 15 New Manufacturing Jobs
of Cassopolisto make public infrastructure improvements needed for Schwintek Inc. to expand its manufacturing operations there. The grant is being made available by the Michigan Economic Development Corporation with funds provided by the federal Community Development Block Grant program. The project is expected to involve $750,000 in private investment and create 15 new jobs.
The MEDC is able to award approximately $40 million in federal CDBG funds each year. There are 1,655 local governments within the state eligible to apply for these funds. Projects are approved contingent upon compliance with state and federal requirements.
Schwintek manufactures hydraulic-related products including manifolds, valves, power units and actuators for the automotive, healthcare, construction, marine and agricultural industries.
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 MEDC initiatives and programs, visit the Web site at www.michigan.org.
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