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Wednesday, October 15, 2014
Projects total $10 million in new investment, 107 new jobs
LANSING, Mich. – The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of one business expansion and two community revitalization projects in Michigan that will generate $10 million in private investment and create 107 jobs.
“The commitment of these companies to grow and create jobs here demonstrates the significance of our greatly improved business climate and infrastructure,” said MEDC president and CEO Michael A. Finney. Today’s projects, representing a variety of industries, mean more jobs and greater economic opportunities for people throughout Michigan.”
The Michigan Strategic Fund approved incentives for the following projects:
SL America Corp., a Tier 1 supplier of exterior lighting, gear shifters, electronics, and pedal modules for the automotive industry, is a subsidiary of South Korea-based SL Corporation. The company has outgrown its current facility in Sterling Heights and plans to expand into an existing building in the City of Auburn Hills, investing more than $8 million and creating 72 jobs. As a result of the expansion, the project has been awarded a $615,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Tennessee. The City of Auburn Hills has offered support to the project in the form of property tax abatement. Individuals interested in employment opportunities with SL America should visit www.sl-america.com, and www.slworld.com for additional information pertaining to SL Corporation.
The Village of Cassopolis has been awarded $127,800 in Community Development Block Grant funds to be used toward infrastructure improvements for the Schwintek Inc. expansion project in Cassopolis. Schwintek, a manufacturer of Automatic Bimini Tops for the boating industry, is expanding its facility due to increased demand. The expansion will generate a total capital investment of $750,000 and create 10 jobs. The company has agreed that at least six of the jobs will be held by low to moderate income persons. For information on careers with Schwintek Inc., visit www.schwintek.com.
The City of Marquette has been awarded $481,000 in Community Development Block Grant funds for the rehabilitation of the vacant, historic Delft Theater in downtown Marquette. The project will convert the vacant theater into a restaurant and dinner theater. The completed project will include a rooftop deck, a flexible stage for live events, and balcony seating. The CDBG funds will be used for interior and exterior building rehabilitation. The project will generate nearly $1.3 million in private investment and create 25 jobs, with at least 13 of the positions to be held by low to moderate income persons. The City of Marquette Downtown Development Authority will contribute $10,000 toward the project.
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.