Thursday, August 21, 2003
146 New Jobs to be Created in Houghton County Airpark
Governor Jennifer M. Granholm joined Houghton County and Ironwood Plastics officials in Ironwood today to present a ceremonial check for $35,000 to support the company’s expansion. The company plans to build a new facility in the Houghton County Airpark Renaissance Zone in Franklin Township, resulting in a total of 146 new jobs and $9 million in private investment.
“Ironwood Plastics has its origins right here in Michigan’s western Upper Peninsula,” Granholm said. “The company’s decision to stay and grow here is a testament to the fact that the U.P. can compete and win top-notch projects that create good-paying jobs.”
Ironwood Plastics had considered locating the new production facility at a competing site in Two Rivers, Wisconsin. The $35,000 Community Development Block Grant is part of an incentive package offered through the Michigan Economic Development Corporation to convince the company to expand in Michigan. The funding will be used to make road improvements needed to accommodate construction of the new facility.
The MEDC also offered Ironwood Plastics a Single Business Tax credit valued at more than $600,000 over a 13-year period.
A family-owned and operated company; Ironwood Plastics produces custom injection molded products serving a diverse set of customers, chiefly in the automotive, electrical connector and defense industries.
“We are excited about our expansion plans both in our current Ironwood location and at our new facility near Houghton,” said Scott Stephens, vice president of Ironwood Plastics. “We are pleased that the state of Michigan has worked with us to ensure that the further investment in Michigan’s Upper Peninsula remains a viable option for our business.”
The Michigan Economic Development Corporation administers the state’s CDBG program with funds received from the U.S. Department of Housing and Urban Development. These funds are used to provide grants to eligible counties, cities, villages and townships—typically those with populations less than 50,000—for economic development, community development and housing projects.
Each year, Michigan receives approximately $50 million in federal CDBG funds. There are 1,655 local governments within the state eligible to apply for these funds.
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