Tuesday, January 22, 2008
Bridget Beckman, MEDC
Governor Jennifer M. Granholm today announced the Michigan Economic Development Corporation (MEDC) is helping two high-tech companies expand in Ann Arbor and Wixom and is backing a brownfield redevelopment project in Manistee. The expansions and redevelopment project are expected to create and retain a total of 261 jobs and involve more than $30 million in capital investment in the communities.
“From Ann Arbor to Manistee, Michigan is investing in growing jobs and our economy,” Granholm said. “These projects demonstrate that Michigan has the right resources and talent for businesses looking to invest, grow and create new jobs.”
The three projects announced today:
- Arbor Networks Inc.- The global computer network security provider plans to invest more than $14 million to expand its research and development operations in Ann Arbor. The project is expected to create 139 new Michigan jobs, including 56 jobs directly by the company. A state tax credit valued at more than $1.5 million over 10 years helped convince the company to choose Michigan over a competing site in Massachusetts. The city of Ann Arbor is considering a property tax abatement valued at approximately $193,200 over eight years to support the project.
- NxtGen Emission Controls Inc. - The Canada-based developer of clean diesel technology is considering an investment of $1.2 million to locate a new administration and manufacturing operation in a leased facility in Wixom. The project, pending company approval, is expected to create 106 new jobs, including 47 directly by the company. A state tax credit valued at $909,000 over 10 years was approved to help convince the company to choose Michigan over a competing site in North America. To support the project, the city of Wixom has approved a five-year tax abatement worth $15,000. Oakland County will contribute up to $20,000 in federal training dollars under the Workforce Investment Act and the MEDC will provide up to $20,000 in Economic Development Job Training funds.
- American Materials LLC -State and local tax capture valued at $522,925 will support therelocation of a material depot and transfer station for construction materials on the city of Manistee’s northern peninsula to an abandoned and contaminated site. The project, making the riverfront location available for new development consistent with the city’s Peninsula Redevelopment plan, will create and retain 16 jobs and generate at least $15 million in private investment.
“Competition for new investment and jobs has never been fiercer,” MEDC President and CEO James C. Epolito said. “Successful economic development today requires strong state and local partnerships. I applaud the efforts of the cities of Ann Arbor, Wixom, Manistee, and Oakland County for working with us to secure these new jobs.”
In her 2006 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005, the governor and the MEDC have announced the creation or retention of more than 217,000 jobs as a result of targeted assistance provided by the MEDC.
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 the MEDC’s initiatives and programs, visit the Web site at www.MichiganBusiness.org.
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