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Wednesday, July 30, 2014
The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of two business expansion projects that are expected to generate nearly $13 million in investments and add up to 271 new jobs in Southeast Michigan.
LANSING, Mich. – The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of two business expansion projects that are expected to generate nearly $13 million in investments and add up to 271 new jobs in Southeast Michigan.
“Michigan leads the nation in creating 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.
INZI Controls Detroit, LLC, established as KONGHWA METAL INDUSTRY CO., LTD. in 1978, is headquartered in Korea and has operations in China, India, Malaysia and the United States. INZI manufactures sensors and engineering plastics along with interior parts for multiple automobile OEMs. In 2009, INZI Controls established a North American headquarters in Elba, AL. INZI Controls Detroit was created as a newly established subsidiary of INZI Controls Alabama to expand the company’s presence in the U.S. The company plans to open a new manufacturing operation in the City of Rochester Hills, investing up to $4.1 million and creating 61 jobs. As a result, INZI has been awarded a $150,000 Michigan Business Development Program performance-based grant. Michigan was chosen over the company’s current facility in Alabama. The City of Rochester Hills has offered support to the project in the form of an eight-year property tax abatement valued at $102,000.
Roush, founded in Michigan in 1975, provides engineering, product development, prototyping, testing and manufacturing services to customers in the transportation, defense, entertainment, aerospace and oil and gas industries. Through its Roush Performance and Roush CleanTech groups, the company manufactures automotive performance products and alternative fuel systems for fleet vehicle applications. Roush is growing and plans to expand its current engineering and manufacturing sites primarily in the City of Livonia as well as at its leased spaced in the City of Allen Park. The project will generate a total capital investment of up to $8.7 million and create 210 new jobs, resulting in a $1 million Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Illinois, New Hampshire, Colorado and Florida. The City of Livonia has offered support by allowing the company use of municipal facilities related to the project. Individuals interested in career opportunities with Roush should visit www.roush.com/careers.
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 considers 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.
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.
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