Thousands of Resources. Ready to help.
Wednesday, October 22, 2014
The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of two business expansion projects that are expected to generate $11.8 million in investments and add up to 202 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 $11.8 million in investments and add up to 202 new jobs in Southeast Michigan.
“Michigan leads the nation in creating manufacturing jobs, and these new expansions will keep us moving in the right direction,” said MEDC President and CEO Michael A. Finney. “Today’s investments will all lead to greater economic opportunities for Michigan residents, drive future business investment, and create more and better jobs.”
The Michigan Strategic Fund approved incentives for the following projects:
Lippert Components Manufacturing, Inc. a subsidiary of Drew Industries Incorporated, supplies a broad array of components for the leading manufacturers of recreational vehicles, as well as adjacent industries including buses; trailers used to haul boats, livestock, equipment and other cargo; truck campers; truck caps; manufactured housing; modular housing; and factory-built mobile office units. Lippert recently acquired Innovative Design Solutions, Inc., a Sterling Heights-based designer, developer and manufacturer of electronic device technology systems that encompass a wide variety of RV applications. The company plans to retain and grow the IDS operations in Sterling Heights, investing up to $1.7 million and adding 102 new jobs. As a result, the project has been awarded a $200,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Indiana. The City of Sterling Heights is offering support to the project in the form of free use of public facilities related to the project. Individuals interested in careers with Lippert should visit http://lci1.com/.
Oakland Stamping, LLC, established in the City of Detroit in 2009 by its parent company L&W Engineering, manufactures stampings and welded assemblies for the auto industry. The company plans to expand its operations at one of its campus buildings in Detroit, investing up to $10.1 million and creating 100 jobs. As a result of the expansion, the project has been awarded a $300,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Ohio and Tennessee. The City of Detroit is supporting the project in the form of a property tax abatement.
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.
Recent Press Releases