Tuesday, September 19, 2006
Michael Shore, MEDC
Michigan Bests Georgia for Major Expansion
Governor Jennifer M. Granholm today announced Siemens Water Technologies Corp. plans to invest nearly $3 million in its Holland facility, a project that is expected to create 127 new Michigan jobs, including 80 directly by the company. Assistance offered through the Michigan Economic Development Corporation helped convince the company to grow in Michigan instead of at a competing site in Georgia. An MEDC official joined company and local leaders in Holland this afternoon at an event to celebrate the announcement.
An economic analysis conducted by the MEDC estimates that increased economic activity created by the new facility will generate an additional 47 indirect Michigan jobs, in addition to the 80 created directly by the company. The project is expected to generate more than $56.8 million in personal income for Michigan workers over the life of the tax credit.
The expansion is one of nine economic development projects the Governor announced today. In all, they are expected to create and retain a total of 1,009 Michigan jobs.
The Water Technologies division of Siemens is the global leader in products, systems, and services for water and wastewater treatment for industrial, institutional, and municipal customers with 157 locations worldwide. The companycurrently employs 130 workers in Holland with additional operations in Hazel Park and Wyoming, Michigan.Originally founded in Holland as JW Industries in 1976, Siemens purchased the Holland-based manufacturer in 2004.
Siemens Water Technologies Corp.
(All estimates in 2006 dollars)
|TOTAL JOBS CREATED|
|NET POSITIVE STATE REVENUE IMPACT|
|Average Weekly Wage|
|Personal Income Generated Over Life of the Nine-Year Tax Credit Agreement|