The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of a $300,000 Michigan Business Development Program performance-based grant for Fontijne Formitt.
LANSING, Mich. – The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of a $300,000 Michigan Business Development Program performance-based grant for Fontijne Formitt to expand its operations and establish a new production line in Milton Township, a project that will generate approximately $2.6 million in capital investment and add up to 31 new jobs.
“Michigan leads the nation in manufacturing jobs growth, and the new jobs resulting from Fontijne Formitt’s expansion will keep us moving in the right direction,” said MEDC President and CEO Michael A. Finney. “The company’s decision to invest and add jobs here is a strong statement that Michigan offers one of the nation’s best business climates to growing companies.”
Fontijne Formitt, Inc. was founded when its parent company Fontijne Grotnes Group acquired metal forming intellectual property of Hess Industrial, a metal fabrication company based in Niles. The company plans to produce a type of tubular component for the exhaust of catalytic converters for gas and diesel engines, expanding in a facility in Milton Township (Cass County). The company will add 31 new jobs and invest $2.6 million for the project, resulting in a $300,000 Michigan Business Development Program performance-based grant. Michigan was chosen over an existing facility in Illinois. Milton Township plans to support the project with a 12-year tax abatement at an estimated value of $62,000.
“It’s a great day for Milton Township and the surrounding communities,” said Fontijne Formitt, Inc. Vice President of Sales and Marketing Mike Walker. “We look forward to leveraging the excellent employment and vendor base that exists in this area. We are excited to pick Michigan as our home.”
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.
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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.