Thursday, August 03, 2006
Michael Shore, MEDC
Company to Invest $1 Million, Create 50 New Jobs
The grant is being made available by the MEDC with funds provided by the federal Community Development Block Grant program. It will be used to extend a village-owned sewer line to the Second Chance Armor facility, with a contribution of $44,000 for the project from the Central Lake Sewer Fund.
The MEDC is able to award approximately $40 million in federal CDBG funds each year. There are 1,655 local governments within the state eligible to apply for these funds. Projects are approved contingent upon compliance with state and federal requirements.
Second Chance Armor is a wholly owned subsidiary of Armor Holdings Inc. (NYSE: AH), a Jacksonville, Florida-based manufacturer of branded products for military, law enforcement and personal safety markets. Named a Fortune 1000 company last April, Armor has about 5,000 employees at 25 facilities in nine countries and had revenues of $1.6 billion in 2005. It has completed 26 acquisitions since 1996 and purchased the assets of Central Lake-based Second Chance Body Armor, manufacturer of bullet resistant vests in 2004. The Michigan-based operations will add a new brand of armor designed for the law enforcement community.
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 MEDC initiatives and programs, visit the Web site at www.michigan.org.
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