Up to $205.2 million in new private investment, adding or retaining a projected 4,022 jobs
LANSING -- The Michigan Economic Growth Authority (MEGA) Tuesday approved tax incentives for 15 companies choosing to expand or locate in Michigan, as well as two brownfield redevelopment projects. The companies estimate the projects will generate up to $205.2 million in new private investment, adding or retaining a projected 4,022 jobs.
“The reinvention of Michigan starts with great companies expanding their operations here and today’s actions demonstrate our ability to attract new business opportunities, both traditional and leading-edge, across a wide variety of industries,” said Michael A. Finney, President and CEO of the Michigan Economic Development Corporation (MEDC). “As today’s actions show, we at MEDC are working with regional economic-development groups from across Michigan to make the expansions of these companies a strong first step in their success.”
The MEGA board approved incentives to win the following projects for Michigan over competing states and countries:
- American Broach & Machine Company – The designer and builder of machine tools for the auto and defense sectors plans to invest $25 million in a new research and development center in Ypsilanti. The company expects the project to create up to 43 direct new jobs, resulting in a state tax credit valued at $572,782 over seven years. Michigan was chosen over competing sites in Canada and China. The city of Ypsilanti is considering an abatement in support of the project. http://www.americanbroach.com/
- Benteler Automotive Corporation - Part of the Benteler Group, an international firm with North America operations in the automotive and defense sectors, the company plans to spend $3.9 million over the next five years to retain its headquarters in Auburn Hills and expand in Grand Rapids, Wyoming and Comstock Township. The company expects the project to create up to 250 direct new jobs, resulting in a state tax credit valued at $1.2 million over five years. Michigan was chosen over competing sites in Alabama and South Carolina. The city of Auburn Hills is considering an abatement in support of the project. http://www.benteler.com
- Faurecia Interior Systems Inc. – One of the world’s largest automotive suppliers plans to invest $19.3 million to manufacture and supply interior door panels, center consoles and cockpits for upcoming model launches at its facility in Fraser. The company also plans to expand its technical and customer support staff at its Auburn Hills facility. The company expects the projects to create up to 428 direct new jobs, resulting in a state tax credit valued at $4.3 million over seven years. Michigan was chosen over competing sites in Ohio and Mexico. The cities of Fraser and Auburn Hills are considering an abatement in support of the projects. http://www.faurecia.com
- Fluid Routing Solutions Inc. – A leading designer and manufacturer of fuel management systems and hose extrusion projects for the automotive industry plans to invest $12.5 million to expand in Big Rapids. The company expects the project to retain up to 277 direct new jobs, resulting in a state tax credit valued at $1.6 million over seven years. Michigan was chosen over competing sites in Kentucky and Tennessee. The city of Big Rapids is considering an abatement in support of the project. http://www.fluidrouting.com/
- Gemini Group Inc. – The manufacturer of aluminum extrusion dies and provider of metal stamping, injection molding and stamping services to the automotive, lawn and garden, consumer products, defense, energy, aerospace and transportation industries plans to invest $53 million to renovate, upgrade and expand in Huron County. The company expects the project to create up to 290 direct new jobs and retain up to 555 direct jobs, resulting in state tax credits valued at $6.56 million over eight years. Michigan was chosen over competing sites in Texas and Mexico. The city of Bad Axe, Village of Ubly, Bingham Township and Verona Township are considering abatements in support of the project. http://www.geminigroup.net/
- IPC Print Services Inc. – The wholly owned subsidiary of Walsworth Publishing specializing in the complete production and distribution of magazines, journals, catalogs and books plans to invest $23.1 million to retain is operations in Lincoln Township and St. Joseph Township. The company expects the project to retain up to 208 direct jobs, resulting in a state tax credit valued at $1 million over five years. Michigan was chosen over a competing site in Missouri. The Charter Township of Lincoln is considering an abatement in support of the project. http://www.walsworthprintgroup.com
- KUKA Robotics Corporation – The supplier of industrial robots for a wide range of industries, including advanced medical and entertainment, plans to invest $4.7 million in a facility in Oakland County. The company expects the project to retain up to 68 direct jobs, resulting in a state tax credit valued at $1 million over five years. Michigan was chosen over a competing site in Georgia. The city of Rochester Hills is considering an abatement in support of the project. http://www.kuka-robotics.com/usa/en/
- MedAssurant, Inc. - A leading provider of data-driven healthcare solutions plans to expand employment levels with a new facility in Lansing due to increasing market demand for its services. The company plans to invest $4 million and create up to 404 direct new jobs, resulting in a state tax credit valued at $2.2 million over five years. Michigan was chosen over competing sites in Maryland, Georgia, and Virginia. http://www.medassurant.com/
- Merit Technologies Worldwide LLC - The manufacturer of stamped metal parts for the auto industry plans to invest $16.8 million to open a hot stamping operation in Canton. The company expects the project to create up to 89 direct new jobs, resulting in a state tax credit valued at $442,182 over five years. Michigan was chosen over a competing site in Indiana. Canton Charter Township is considering an abatement in support of the project. http://www.gnsauto.com/
- Metalloid Corporation – The privately owned corporation that supplies both traditional and “green” metalworking fluids to the automotive, manufacturing and leisure sectors plans to invest $365,000 to establish a manufacturing operation in Sturgis. The company expects the project to create up to 30 direct new jobs, resulting in a state tax credit valued at $227,898 over five years. Michigan was chosen over competing sites in Indiana and Texas. The city of Sturgis is considering an abatement in support of the project. http://www.metalloidcorp.com/
- Patriot Solar Group LLC – The solar-energy company plans to invest $3.9 million to open a solar mounts, solar systems and antenna mounts manufacturing facility in Sheridan Township, north of Albion. The company expects the project to create up to 193 direct new jobs, resulting in a state tax credit valued at $1.2 million over five years. Michigan was chosen over competing sites in Nevada and Canada. Sheridan Township is considering an abatement in support of the project. http://www.patriotsolargroup.com/
- Unistrut International Corporation – A division of Atkore International, the designer and manufacturer of metal framing plans to invest $4.5 million to grow the operations of its Wayne facility. The company expects the project to create up to 86 direct new jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $606,263 over five years to support the growth plan. The city of Wayne is considering an abatement in support of the project. http://www.unistrut.us/
- WABCO North America LLC – A leading supplier of innovative safety and control systems for the commercial vehicle industry plans to invest $2.2 million to create a new product development division in Rochester Hills. The company expects the project to create up to 100 direct new jobs, resulting in a state tax credit valued at $986,536 over five years. Michigan was chosen over competing sites in Indiana and Illinois. The city of Rochester Hills is considering an abatement in support of project. http://www.wabco-auto.com/
- XG Sciences Inc. – The manufacturer and developer of graphene nanoplatelets and advanced materials that incorporate such nanoplatelets plans to invest $6.6 million to consolidate and expand in Delhi Township. The company expects the project to create up to 50 direct new jobs, resulting in a state tax credit valued at $435,751 over five years. Michigan was chosen over a competing site in Ohio. Delhi Charter Township is considering an abatement in support of the project. http://www.xgsciences.com/
- City of Plainwell Brownfield Redevelopment Authority – State and local tax capture valued at $568,546 will support the redevelopment of the 36-acre Plainwell Paper Mill Superfund site for mixed commercial and retail use through three separate projects. The project will include renovating 200,000 square feet of buildings that will soon be listed on the National Historic Register, public infrastructure improvements and exterior improvements. The project will generate $3.7 million in new private investment and create up to 30 jobs.
- City of Westland Brownfield Redevelopment Authority – State and local tax capture valued at $187,635 will support the redevelopment for the 49,822-square-foot former Showcase Cinema building located at 6800 N. Wayne Road. MJR Theatres will demolish the former building and construct a new, 69,000-square-foot, 16-screen state-of-the-art theatre complex. The project is expected to generate $13.8 million in new private investment and create up to 10 full-time and 50 part-time jobs.
- Morley Companies Incorporated – Established in 1863, Morley Companies earned acclaim as the second-largest hardware company in the country. For the past 40 years, the company has provided group travel, business theater, research, exhibits, displays and performance improvement services to a diverse group of Fortune 500 clients. The company plans to amend a Standard MEGA incentive it received in December 2009 for the opportunity to expand in Saginaw Township to accommodate new contracts. The company plans to invest an additional $7.7 million and create an additional 911 direct new jobs. http://www.morleynet.com/index.html
The Michigan Economic Growth Authority (MEGA) may, under statute, provide a refundable tax credit against the Michigan Business Tax (MBT) to companies expanding or relocating their operations in Michigan. Tax credit agreements, awarded on the basis of the company’s strength of project, program guidelines and MEGA board approval, are earned over time by a company’s performance in meeting specified investment and hiring requirements.
Companies eligible for a MEGA Employment Tax Credit against the MBT are those engaged in manufacturing, mining, research and development, high technology, wholesale and trade, film and digital media, office operations, and tourism projects as defined by state law. Generally, retail facilities are not eligible. A company may receive a MEGA agreement specific to its circumstance, as defined in statute as High Tech, High Wage, Retention, Standard or Rural MEGAs.
The MEGA board is also empowered under statute to award Brownfield Redevelopment tax credits to support new business expansion projects on property that is contaminated, blighted or functionally obsolete.
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.
