Tuesday, June 19, 2007
Michael Shore, MEDC
Company Commits to $32 Million Investment
Governor Jennifer M. Granholm today announced General Mills Operations Inc., a wholly owned subsidiary of General Mills Inc., will invest approximately $32 million to expand its Yoplait yogurt plant in Reed City. The project will create 52 new Michigan jobs, including 25 directly by the company. Assistance offered through the Michigan Economic Development Corporation and Reed City helped convince the company to expand in Michigan.
An economic analysis conducted by the MEDC estimates that increased economic activity created by the new facility will generate an additional 27 indirect Michigan jobs, in addition to the 25 created directly by the company. The project is expected to generate more than $22.9 million in personal income for Michigan workers over the life of the tax credit.
The General Mills expansion is one of seven economic development projects the governor announced today. In all, they are expected to create and retain a total of 2,868 Michigan jobs.
|TOTAL JOBS CREATED|
|NET POSITIVE STATE REVENUE IMPACT|
|Average Weekly Wage|
|Personal Income Generated Over 7-Yr Tax Credit Agreement|