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The Michigan Economic Development Corporation today announced that two manufacturing companies were approved for incentives by the Michigan Strategic Fund through the Michigan Business Development Program to support their expansions in the state.
LANSING, Mich. – The Michigan Economic Development Corporation today announced that two manufacturing companies were approved for incentives by the Michigan Strategic Fund through the Michigan Business Development Program to support their expansions in the state. The projects are expected to generate up to $9 million in investments and add 105 new jobs in Michigan.
“Michigan is the number-one state for creating new manufacturing jobs, and these new expansions underscore an economic climate that is more business-friendly than ever and a manufacturing talent pool that can compete with any place in the world,” said MEDC President and CEO Michael A. Finney.
The projects approved today:
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.