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The Michigan Economic Development Corporation today announced Michigan Strategic Fund (MSF) approval of Michigan Business Development Program incentives to two companies planning expansions in the state.
LANSING, Mich. – The Michigan Economic Development Corporation today announced Michigan Strategic Fund (MSF) approval of Michigan Business Development Program incentives to two companies planning expansions in the state. The projects are expected to generate up to $5.9 million in investments and add 639 new jobs in Michigan.
“These two innovative companies deserve our congratulations and our thanks for their decision to locate in Michigan. These investments in our state will strengthen our communities and fuel new opportunities for our talented workforce,” said MEDC President and CEO Michael A. Finney. “Today’s projects demonstrate that Michigan’s highly competitive business climate and tremendous workforce capabilities mean real opportunities for leading edge companies.”
The projects approved today:
Renu Wireless USA, LLC, a joint venture between Florida-based Renu WG Holdings LLC and Michigan-based IWH Cornerstone LLC, provides large scale wireless re-manufacturing and refurbishing services for smartphones and other devices. The company plans to invest nearly $5.3 million for a new communications re-manufacturing operation in the City of Roseville. The project will create up to 228 jobs, resulting in a $900,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in North Carolina. The project is being considered by the City of Roseville and Macomb County for support in the form of a property tax abatement, a county-hosted job fair, or use of Macomb County facilities.
Universal Marketing Group, LLC, headquartered in Toledo, OH, is a sales-oriented call center servicing the infomercial industry. UMG plans to open a new call center in the former Borders building in the City of Ann Arbor, investing up to $568,662 and creating up to 411 jobs. As a result, the company is being awarded a $600,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Bowling Green and Columbus, OH. Ann Arbor SPARK, in partnership with Washtenaw County Michigan Works!, has committed to providing talent support to the company, including job postings and resume screening.
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.
Pure Michigan is a brand representing business, talent and tourism initiatives across Michigan. These efforts are driven by the Michigan Economic Development Corporation, which serves as the state’s marketing arm and lead advocate for business growth, jobs and opportunity with a focus on helping grow Michigan’s economy.
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.