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Tuesday, August 23, 2016
Inteva Products expanding in Adrian, adding up to 127 jobs
LANSING, Mich. – Projects expected to generate nearly $88.5 million in total investment and create 222 jobs in Michigan gained approval from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
“Today’s MSF actions further boost Michigan’s growing economy by generating new opportunities for our families and businesses,” said MEDC Chief Executive Officer Steve Arwood. “These investments will help to revitalize our communities, create jobs for our residents, and strengthen Michigan’s workforce.”
Inteva Products, LLC, is a global tier one automotive supplier providing interior systems, roof systems, closure systems and motors and electronics. The company has been awarded new automotive program contracts and plans to significantly upgrade its facility in the city of Adrian, investing $23 million and creating 77 jobs with the potential for up to 127 jobs. As a result, the company has been awarded a $1.27 million Michigan Business Development Program performance-based economic assistance. Michigan was chosen over competing sites in other states. The city of Adrian and Lenawee Now will support the project by hosting and supporting a job fair for the company. Individuals interested in career opportunities with Inteva should visit www.intevaproducts.com/careers.
“We cannot overly express the high level of collaboration and teamwork with all our partners; Adrian City, MEDC. MI Works SE, and Consumers Energy in winning this successful outcome for our community and our state,” said Lenawee Now Executive Director Jim Van Doren.
MSF also approved the following:
The City of Grand Rapids Brownfield Redevelopment Authority received MSF approval of $729,525 in local and school tax capture for the Green Cane Property project, a new mixed-use development on Wealthy Street in downtown Grand Rapids. The finished project will consist of six new buildings with commercial, retail and residential space. The tax capture will be used to demolish an existing building, alleviate brownfield conditions at the site and prepare it for redevelopment, and make infrastructure improvements.
The City of Grand Rapids Brownfield Redevelopment Authority also received MSF approval of $10,916,593 in local and school tax capture for Market Avenue Place, a new, mixed-use building on Market Avenue in downtown Grand Rapids. The completed project will consist of a new five-story, mixed-use building with residential apartments, commercial space and a parking deck. The project is expected to generate a total capital investment of $56.5 million and create 80 jobs. The tax capture will be used to alleviate brownfield conditions at the site and prepare it for redevelopment.
Several other action items approved today include:
- The approval of a one-year contract extension with the Council of Great Lakes Governors (CGLG, DBA as the Conference of Great Lakes Governors and St. Lawrence Governors and Premiers) will allow MEDC to continue to offer Michigan companies access to export development services in markets including Mexico, Canada, China, the UK, Germany, and Brazil, Mexico. These services include, but are not limited to: market research; foreign agent/distributor/representative searches; end-user searches; matchmaking services for buyer missions; trade mission support; and information on logistics/customs/regulatory issues. MEDC will share the use of CGLG contractors with other CGLG member states.
- Approval of an inducement resolution for issuance of $8.4 million in tax-exempt bonds for Holland Home to renovate its facility in Grand Rapids and refinance the cost of construction of its facility in Byron Center.
- Approval of $4.55 million in private activity tax-exempt bond financing for The F.P. Horak Company to construct a new facility in Monitor Charter Township (Bay County).
- Approval of three contracts for the following services: Public relations and social media contract awarded to Weber Shandwick; business marketing and advertising contract awarded to McCann Erickson; and Travel Michigan marketing and advertising contract awarded to McCann Erickson.
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.
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