Tuesday, September 18, 2007
Bridget Beckman, MEDC
Governor Jennifer M. Granholm today announced Thunder Bay Development LLC is planning to invest $15 million to purchase and upgrade the former Thunder Bay manufacturing facility in Alpena. Thunder Bay Development LLC would be operated as part of ATI Casting Service, an Allegheny Technologies Incorporated company. ATI Casting Service manufactures grey and ductile iron castings for wind energy and other markets. The project is expected to create 368 new Michigan jobs, including 150 directly by the company. Assistance offered through the Michigan Economic Development Corporation helped convince the company to pursue the Michigan facility instead of a site in Indiana.
Epolito noted that Michigan is well-positioned for leadership in the wind energy industry. Michigan is ranked 14th in wind generation potential, fourth in potential wind system production capacity and ranks second out of all the states in overall wind impact, according to a recent renewable energy policy project study.
Last month, Epolito and the governor conducted an investment mission to Sweden, meeting with leaders of the country's alternative energy industry, including government andcompany officials, to develop partnerships and encourage investment in Michigan. Upon their return, the governor announced that Michigan will host a Michigan-Sweden alternative energy summit in early 2008 to accelerate investment and job creation.
An economic analysis conducted by the MEDC estimates that increased economic activity created by the new facility would generate an additional 218 indirect Michigan jobs, in addition to the 150 jobs that would be created directly by the company. The project is expected to generate more than $123 million in personal income for Michigan workers over the life of the tax credit.
The Thunder Bay Development project is one of eight economic development projects the governor announced today. In all, they are expected to create a total of 3,512 Michigan jobs.
Allegheny Technologies Incorporated is one of the largest and most diversified specialty metals producers in the world with revenues of $5.5 billion during the most recent four quarters ending June 30, 2007. ATI has approximately 9,500 full-time employees world-wide who use innovative technologies to offer growing global markets a wide range of specialty metals solutions. Major markets are aerospace and defense, chemical process industry/oil and gas, electrical energy, medical, automotive, food equipment and appliance, machine and cutting tools, and construction and mining. Products include titanium and titanium alloys, nickel-based alloys and superalloys, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, grain-oriented silicon electrical steel and tool steels, and forgings and castings.
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