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Tuesday, December 22, 2009
Total of 25 Companies to Benefit from Tax-Free Status
The Michigan Economic Development Corporation today announced that three tool and die coalitions have been approved for tax-free Tool and Die Recovery Zone status under the state’s Renaissance Zone program. The zones allow member companies to operate free of virtually all state and local taxes for up to 15 years.
The following applicants were approved today for Tool & Die Recovery Zone designation by the Michigan Strategic Fund (MSF) board: Michigan Adaptive Coalition, Strategic Tooling Solutions and Third Coast Tooling Alliance. (A complete list of the companies and their locations follows.)
“Tool and die shops and their employees are under intense challenge from overseas competition,” Greg Main, president and CEO of the MEDC and chair of the Michigan Strategic Fund board said. “Tax-free designation will lower their operating costs and help keep these skilled jobs in Michigan.”
To qualify, the property designated must be leased or owned by a qualified tool and die business and used primarily for tool and die operations. In addition, the business must enter into a qualified collaborative agreement which designates synergistic opportunities with other qualified tool and die shops, including collaborative marketing and the development of standardized processes and management methods. Member companies in the same collaborative can be located in a different part of the state.
Today’s is the 6th round of designations since 2005. Including today’s announcement, the state has a total of 28 Tool & Die Recovery Zones consisting of 272 locations in 35 counties. Another round will be scheduled in 2010. MSF may designate 35 recovery zones.
Recovery Zone Name/Company Names |
Location |
City/Twp/Village |
County |
Third Coast Tooling Alliance |
|||
Baker Machining & Mold Technologies |
Macomb |
Macomb Township |
Macomb |
Brown Jig Grinding Co. |
Wixom |
City of Wixom |
Oakland |
Carroll Tool and Die Co. |
Macomb |
Macomb Township |
Macomb |
Dynamic Plastics, Inc. |
Chesterfield |
Chesterfield Charter Twp |
Macomb |
Exacto Tool Co. LLC |
Shelby Twp |
Shelby Charter Twp. |
Macomb |
Ideal Technology Corporation |
Shelby Twp |
Shelby Charter Twp. |
Macomb |
Kraftwood Engineering Co. |
Walled Lake |
Commerce Charter Twp |
Oakland |
Majestic Industries, Inc. |
Macomb |
Macomb Township |
Macomb |
Mistequay Group, Ltd - 2 separate locations |
Saginaw |
City of Saginaw |
Saginaw |
Mistequay Group, Ltd - 2 separate locations |
Standish |
City of Standish |
Arenac |
Posa-Cut Corporation |
Farmington Hills |
City of Farmington Hills |
Oakland |
Precision Industries, Inc. |
Flint |
City of Flint |
Genesee |
PCD-Carbide Tool Co. dba Precorp, Inc. |
Williamston |
City of Williamston |
Ingham |
TransNav, Inc. |
New Baltimore |
City of New Baltimore |
Macomb |
Universal/DeVlieg LLC |
Saginaw |
City of Saginaw |
Saginaw |
Strategic Tooling Solutions |
|||
A & O Mold and Engineering, Inc. |
Vicksburg |
Village of Vicksburg |
Kalamazoo |
CAMmand Machining, LLC |
Romeo |
Village of Romeo |
Macomb |
Commercial Tool and Die, Inc. |
Comstock Park |
Alpine Township |
Kent |
Concept Molds, Inc. |
Schoolcraft |
Schoolcraft Township |
Kalamazoo |
Delta Tooling Co., dba Delta Technologies |
Auburn Hills |
City of Auburn Hills |
Oakland |
M & M Polishing, Inc. |
Coloma |
City of Coloma |
Berrien |
Michigan Tool Works |
Sturgis |
City of Sturgis |
St. Joseph |
Pyper Tool and Engineering, Inc. |
Grand Rapids |
City of Walker |
Kent |
TK Mold and Engineering, Inc. |
Romeo |
Village of Romeo |
Macomb |
Walker Tool and Die, Inc. |
Grand Rapids |
City of Walker |
Kent |
Michigan Adaptive Coalition |
|||
Burton Industries, Inc. |
Goodrich |
Atlas Township |
Genesee |
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
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