Thursday, August 7, 2014
The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of two business expansion projects that are expected to generate $10.2 million in investments and add up to 114 new jobs in West Michigan.
LANSING, Mich. – The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of two business expansion projects that are expected to generate $10.2 million in investments and add up to 114 new jobs in West 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.”
Celia Corporation dba General formulations, established in 1984, manufactures plastic film for the printing industry and screen printing for advertising materials. The company plans on expanding in the Village of Sparta, investing approximately $4.2 million and creating 50 jobs. As a result, the project has been awarded a $233,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Georgia and California. The Village of Sparta plans to support the project in the form of property tax abatement. Individuals interested in exploring employment opportunities with Celia Corporation should visit www.generalformulations.com.
Flow-Rite Controls, Ltd. designs, manufactures and markets fluid control devices for batteries, recreational fishing boats, laboratories, and medical devices. The company plans to expand its existing operations in Byron Center, investing approximately $6.1 million and creating 64 jobs. As a result, the company has been awarded a $224,000 Michigan Business Development Program performance-based grant. Byron Township has offered support to the project in the form of property tax abatement. For information on careers with Flow-Rite, visit www.flow-rite.com/careers.
“Flow-Rite is the definition of what advanced manufacturing looks like today in West Michigan,” said Birgit Klohs, President and CEO, The Right Place, Inc. “It is imperative that we retain and expand growing companies like Flow-Rite in our region; companies that take pride in the ‘Made in the USA’ labels on their products.”
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.