Thousands of Resources. Ready to help.
Plastic Trim International to invest $16.1 million, create 210 well-paying jobs in Iosco County; New entertainment development in Grand Rapids, façade improvement initiative win approval
LANSING, Mich. – Projects expected to generate more than $126 million in total investment and create 650 jobs in Michigan gained approval from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
“Today’s MSF actions continue to help fuel new economic activity across Michigan, strengthening our communities and creating good jobs for our residents,” and said Jeff Mason CEO of MEDC, the state’s chief marketing and business attraction arm that administers programs and performs due diligence on behalf of the MSF.
“Plastic Trim’s continued commitment Iosco County means good jobs for area residents that could well have gone to another state. It is thanks to many public and private partners that this project is taking place, and we are pleased to support that collaboration,” Mason said.
Plastic Trim International, Inc. is a subsidiary of MINTH Group US Holdings, Inc., a China-based manufacturer of trim, molding, decorative parts, body structural parts, set frame systems, and roof racks for the auto industry. Plastic Trim’s Baldwin Township plant, established in 1992 and acquired by the MINTH Group in 2007, manufactures trim, molding, and decorative auto parts for General Motors, Chrysler, Volkswagen, Nissan, and BMW. The company also has a logistics center in Tawas City that supports the Baldwin Township manufacturing plant.
The company is experiencing increasing demand and plans to expand its Baldwin Township plant by adding more than 42,000 square feet of space and upgrading technologies. The Tawas City logistics center will also have some growth due to the increased production in Baldwin Township. The project is expected to generate a total capital investment of up to $16.1 million and create 210 well-paying jobs in Iosco County, resulting in a $1,575,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Tennessee. Since the majority of the investment will take place in Baldwin Township, the township has offered a 50-percent tax abatement in support of the project.
"Michigan Works! Region 7B Consortium is excited to partner with MINTH to increase the skills of their current workforce and train new hires in the skilled trades. This project will have a significant impact on the community," said Executive Director Mark Berdan.
Jackson Entertainment, LLC plans to redevelop surface parking lots and adjacent vacant land in downtown Grand Rapids into a mixed-use project that will include a multiplex movie theater, retail space, residential apartments, hotel and commercial office space. The project is expected to generate a total capital investment of $110 million and create 440 full-time equivalent jobs. When completed, the project will bring density and vibrancy to the area, improve foot traffic, and generate increased revenue for surrounding businesses. MSF today approved a $5.5 million Michigan Community Revitalization Program performance-based loan in support of the project. In addition, the City of Grand Rapids Brownfield Redevelopment Authority received approval of $30,377,630 in local and school tax capture for brownfield remediation activities at the site.
MSF also approved the new $1.5 million Façade Restoration Initiative, or FRI, for façade improvement efforts in communities around the state. The purpose of the initiative is to expand state support for façade improvement projects because they have been seen to stimulate downtown foot traffic, add to a community’s economic vitality, encourage building owners to make additional improvements, and create a sense of place in downtowns. FRI will provide matching funds of up to 50 percent of façade restoration costs to local downtown development authorities, Main Street organizations, principal shopping districts or local authorities. To be eligible, communities must have an existing and locally administered façade improvement program already in place.
In addition, MSF approved a Request for Proposals for the MEDC International Trade Program to solicit proposals from organizations with international trade expertise to provide trade promotion services to Michigan-based businesses seeking export sales in the following target markets: Brazil, China, Canada, Mexico, Europe, and the Middle East. There are currently Michigan Trade Centers established in all markets included in the RFP. The centers provide export services including customized market research, market entry strategy, matchmaking meetings and more. The purpose of the RFP is to enter into a fixed-fee contract for trade promotion services.
# # #
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.