Thursday, November 16, 2006
Tool and Die Recovery Zone Program Proving to be Effective Resource
Tool and Die Recovery Zones are designed to retain existing jobs and strengthen tool and die business operations in the state. To qualify for Recovery Zone designation, a business must enter into a qualified collaborative agreement with other tool and die shops. The first Recovery Zone designations to coalitions comprising a total of 33 companies went into effect on January 1, 2005.
To date, the MEDC has designated 17 Tool and Die Recovery Zones benefiting 131 companies.
The Tool and Die Recovery Zone program is administered by the Michigan Economic Development Corporation. The MEDC is 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 about the MEDC, please visit the Web site at www.michigan.org.
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