Tuesday, August 05, 2014
LANSING, Mich. – Middleville Tool & Die Co. is expanding in Yankee Springs Township with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. The expansion is expected to generate nearly $6.3 million in new private investment and add up to 35 new jobs.
“Middleville is a long-standing employer in Barry County, and its commitment means more good jobs for Michigan residents for years to come, said MEDC President and CEO Michael A. Finney. “Middleville’s decision to expand in Michigan demonstrates our state’s strong advantages as a great place to do business.”
Middleville Tool & Die Co. is a family-owned business established in 1966 that manufactures stamped assemblies and stamped tubular products for the appliance, office furniture and automotive industries. The company plans to expand its current manufacturing facility in Yankee Springs Township (Barry County), investing up to $6.3 million and creating 35 jobs. As a result, the company has been awarded a $350,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Tennessee. Yankee Springs Township has offered support to the project in the form of property tax abatement. For information on careers with Middleville Tool & Die, visit http://www.mtd-inc.com/jobs.htm.
In July Middleville and its real estate and building holding company Middleton Enterprises, LLC received MSF approval of a Bond Authorizing Resolution for private activity bond financing in the amount of $6.3 million for the expansion and related investments.
“Thanks to the innovative spirit and hard work of everyone that supports our business we are experiencing exceptional growth. In the past, Michigan lost far too many businesses, and jobs, to states that offered attractive incentives to those willing to relocate. As we are approach our 50th anniversary of doing business in Michigan we are thrilled that our state is committed to keeping Michigan businesses like ours at home,” said Middleville CEO Gary Middleton. “Michigan’s comeback is alive and well thanks to an atmosphere that promotes better jobs, better training and job security to those who live and work here, together we all succeed.”
The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
The MSF considers a number of factors in making these awards, including: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.
Pure Michigan is a brand representing business, talent and tourism initiatives across Michigan. These efforts are driven by the Michigan Economic Development Corporation, which serves as the state’s marketing arm and lead advocate for business growth, jobs and opportunity with a focus on helping grow Michigan’s economy.
For more on the MEDC and its initiatives, visit michiganbusiness.org. For Michigan travel news, updates and information, visit michigan.org. Michigan residents interested in seeking employment with any of Michigan’s growing companies should check mitalent.org, where more than 82,000 jobs are currently available in a variety of industries.
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