Tuesday, September 19, 2006
Michael Shore, MEDC
Projects Expected to Create , Retain More Than 1,000 Jobs
The nine projects announced today:
- Grid4 Communications Inc.will invest $500,000 to expand its headquarters in Troy, including the installation of a state-of-the-art data center to support new products and services for Michigan businesses. The project will create 48 new jobs, including 33 directly by the company. A Single Business Tax credit valued at $501,000 over six years helped convince the company to choose Michigan over competing sites in Florida and Texas. The city of Troy has proposed a six-year tax abatement valued at $17,485 to support the project.
- Hi-Lex Controls Inc.will invest $26.8 million to expand its operations in Hudson and Litchfield. The project will create 395 new jobs, including 208 directly by the company. A Single Business Tax credit valued at $1.2 million over seven years and a $120,000 Economic Development Job Training grant helped convince the company to grow in Michigan instead of a competing site in Ohio. The villages of Hudson and Litchfield have proposed 12-year tax abatements totaling $2.2 million to support the project.
- Siemens Water Technologies Corporationplans 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. A Single Business Tax credit valued at $1.1 million along with a $40,000 Economic Development Job Training grant helped convince the company to expand in Michigan instead of a competing site in Georgia. Holland Township has proposed a 12-year tax abatement valued at approximately $327,000 to support the project.
- The Tech Group Grand Rapids
- The city of Detroita $3.9 million brownfield Single Business Tax credit for the project last August.
- The city of Hazel Parkwill use state and local tax capture valued at $74,483 to help Capital Sales Company expand its warehouse, packaging and distribution operation at 1471 East Nine Mile Road by 38,000 square feet. The project will create 30 new jobs, retain 30 and generate $2 million in private investment. Capital was awarded a $200,000 brownfield Single Business Tax credit for the project last December.
- The city of Grand Rapids
- The city of Big Rapidswill use state and local tax capture valued at $85,765 to support Lake-Osceola State Bank in restoring a building formerly housing a bookstore to its original use as a bank. The 6,300-square-foot structure will be primarily devoted to bank operations, with 1,000 square feet devoted to retail. Developers will invest $984,886 in the project expected to create seven jobs.
- The city of Manisteewill help Manistee Lakes LLC redevelop three contaminated waterfront sites. The project, supported by state and local tax capture valued at $1.4 million, includes demolition of a vacant factory and motel, site preparation and construction of six two-story residential buildings with a total of 40 condo units in addition to shore wall areas, 36 boat docks, swimming pool and other recreational amenities. The developers will invest more than $14.8 million in the project which is expected to create three jobs.
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