Thursday, April 21, 2011
LANSING – The Michigan Economic Development Corporation today announced state approval of a 15-year, 3.89-acre Agricultural Processing Renaissance Zone (APRZ) in Grand Traverse County that will be home to an expanded Shoreline Fruit processing facility. The project is expected to create a minimum 40 jobs and generate $7.5 million in private investment.
“Michigan’s renaissance zones are designed to encourage the growth of industries that are key to our long-term economic vitality,” Michigan Economic Development Corporation President (MEDC) and CEO Michael A. Finney said. “This expansion is important in advancing agriculture and strengthening our economy.”
A Renaissance Zone allows a company operating within the zone to operate free of virtually all state and local taxes over the life of the designation. The Michigan State Administrative Board unanimously approved the APRZ during a special meeting on April 19.
“Michigan’s $71.3 billion food and agriculture industry is ripe with opportunity for business expansion and job growth,” said Keith Creagh, Michigan Department of Agriculture and Rural Development director. “Food processing expansion opportunities, like Shoreline Fruit, speak volumes to the importance of our food business sector to our state’s reinvention and can serve as economic anchors in our rural communities.”
“We appreciate the support of Acme Township, Grand Traverse County, and the State of Michigan in securing this approval,” said Ken Swanson, Shoreline Fruit’s CEO. “It was critically important for our expansion plan and it demonstrates an increasing recognition of the significant impact agriculture has on our state’s current and future economic success.”
Michigan’s Renaissance Zone program is administered by the MEDC. The MEDC, a public-private 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 website at www.MichiganBusiness.org.
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