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The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of an $875,000 Michigan Business Development Program incentive to HCL America, Inc.
LANSING – The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of an $875,000 Michigan Business Development Program incentive to HCL America, Inc. for its new facility in the City of Jackson, a project that will generate up to $3.35 million in new private investment and add 300 new jobs.
“HCL’s expansion demonstrates that our economic gardening strategy is helping dynamic companies to grow their presence in Michigan,” said Governor Rick Snyder. “This investment by HCL and continued commitment of Consumers Energy sends a message that will be heard around the world that Michigan’s highly competitive business climate and tremendous workforce capabilities mean real opportunities for leading edge businesses.”
HCL America, a wholly-owned subsidiary of HCL Technologies headquartered in India, provides business transformation, enterprise and custom applications, infrastructure management, business process outsourcing and engineering services for a wide range of industries including financial services, manufacturing, consumer services, public services and healthcare. HCL America has won a contract to provide IT services to Consumers Energy and proposes to invest up to $3.35 million to expand its existing Michigan operations by establishing a new facility in the City of Jackson.The project will result in the creation of up to 300 new jobs. Michigan was chosen over competing sites in other states. The City of Jackson has offered support to the project in the form of a 12-year tax abatement.
“The partnership of the City of Jackson, The Enterprise Group, MEDC and CMS proved that working together, we can get the job done,” said City of Jackson Mayor Martin Griffin.
Signed into law by Governor Snyder in December, the Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
The MSF will consider a number of factors in making these awards, including: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.
The Michigan Business Development Program replaces the state’s previous MEGA program that was a feature of the Michigan Business Tax that was eliminated under business tax restructuring legislation approved and signed into law by Snyder in May 2011.
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.