Thursday, April 29, 2004
Dexter Roll Form to Invest $235,000 in New Facility
Governor Jennifer M. Granholm today announced $117,500 in Community Development Block Grant (CDBG) funding that will lead to the creation of 12 new jobs and spur $235,000 in private investment in the St. Clair County community of Yale. The grant, made available through the Michigan Economic Development Corporation (MEDC), will be used to make the necessary water, sewer and roadway improvements for construction of a new manufacturing plant for Dexter Roll Form Company.
"Successful economic development cannot happen without the appropriate public infrastructure to support it," Granholm said. "This grant will help Yale to address these costs while creating new opportunity for jobs and investment."
In her 2004 State of the State address, Governor Granholm announced a focused seven-point plan for economic growth. So far this year, the Governor and the MEDC have announced the creation or retention of approximately 5,638 jobs as a result of targeted assistance provided by the MEDC.
The Yale project is one of five approved today by the MEDC. Combined, the projects will create a total of 229 jobs for Michigan workers. The other projects involve company expansions or new facilities in Lansing, Marquette and Port Huron and a downtown infrastructure project in Dexter.
Based in Warren, Dexter Roll Form manufactures roll form tools primarily for the auto industry. The company plans to invest approximately $235,000 to construct the new facility and purchase new equipment.
The city of Yale will contribute $35,500 to the project.
"CDBG continues to be one of the most valuable tools that we have available to promote community development," MEDC President and CEO Don Jakeway said. "This new factory will be a welcome addition to Yale and a catalyst for future job creation."
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.