Business expansions, community revitalization projects around Michigan gain Michigan Strategic Fund approval

Tuesday, June 26, 2018

• Kalamazoo-based Stryker expanding medical-products facility in Portage • Loc Performance bringing 700 jobs to Lansing • MSF supports community revitalization projects in Flint, Kalamazoo


 
LANSING, Mich. – Projects expected to generate more than $248 million in total investment and create 1,079 jobs in Michigan gained approval from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.

“The Michigan Strategic Fund fuels new economic activity across Michigan, strengthening our communities and creating good jobs,” 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.

“The 960 jobs created by Loc Performance and Stryker further boost Michigan’s defense and medical device industries and serve as catalysts for additional investment around the state. These investments are the result of vital long-term relationships with public and private partners, and we’re pleased to be a part of the collaboration to bring today’s projects to fruition,” he said.

Loc Performance Products is a full-service provider of complex mechanical systems, fabricated structures and armor products for defense and commercial industries. The company is headquartered in Plymouth and recently acquired the assets of Demmer Corporation in Lansing, which has allowed the company to expand its manufacturing capabilities. Loc is winning substantial defense contracts and plans to continue expansion at the Demmer facility; the company may potentially seek to build or purchase a new facility in the Lansing region if capacity is exceeded at the Demmer facility. The project is expected to generate a total capital investment of $96.5 million and create 700 jobs, resulting in a $7 million Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Ohio and Pennsylvania.

“This is a tremendous investment in the City of Lansing! I am proud that Loc Performance Products chose Lansing for its expansion,” said Lansing Mayor Andy Schor. “Lansing’s talented workforce will benefit from the many new jobs that will be created as a result of the major investment in our city.”  

LEAP has offered to support the project with a job fair to assist in attracting talent for the new positions. Individuals interested in careers with Loc should visit here: https://locperformance.com/#starttheconversation.

“LEAP thanks LOC for choosing our state and Lansing over other alternative locations. We’re always in severe national and global competition and we have now won 700 great, new jobs for our families in Michigan and Lansing,” said LEAP President and CEO Bob Trezise. “Thanks also to a terrific MEDC effort on this project.”

Stryker Corporation was founded in Michigan in 1941 and is a global leader in medical technology. Stryker offers innovative products and services in orthopaedics, medical and surgical, and neurotechnology and spine that help improve patient and hospital outcomes. Stryker’s medical division continues to grow and it has become necessary to expand its existing manufacturing capacity. The company plans to expand its facility in the city of Portage, investing nearly $110 million and creating 260 jobs by 2025. As a result, Stryker has been awarded a $2.6 million Michigan Business Development Program performance-based grant. Michigan was selected over competing sites in other locations. The city of Portage has offered a 50-percent property tax abatement in support of the project. Individuals interested in careers with Stryker should visit https://careers.stryker.com/.

Coolidge Park Limited Dividend Association Limited Partnership Housing and Communities First, Inc. plan to historically renovate the abandoned and vacant Calvin Coolidge Elementary School site located at 3701 Van Buren Avenue in the city of Flint. The completed project will be a mixed-use development with 54 new mixed-income affordable rental housing apartments and first floor commercial space. The project is expected to generate a total capital investment of $16.5 million and create 12 full-time equivalent jobs, resulting in a $1 million Michigan Community Revitalization Program performance-based grant. The project will renovate what is currently a blighted eyesore into a vibrant mixed-use development that is expected to bring new companies and visitors to the area and serve as a catalyst for further development and growth.

400 Rose, LLC plans to redevelop vacant land and a surface parking lot located at 400 S. Rose Street in downtown Kalamazoo. The completed project will be a four-story, mixed-use infill development that will include residential units, commercial space and parking. The project is expected to generate a total capital investment of $25.5 million and create seven full-time equivalent jobs, resulting in a $4.4 million Michigan Community Revitalization Program performance-based loan participation. The project will bring much-needed residential space to the area and will reactivate a long-vacant, blighted property into an inviting and attractive community asset.

In addition, the City of Kalamazoo Brownfield Redevelopment Authority received MSF approval of $3,632,517 in local and school tax capture to alleviate brownfield conditions at the site.

MSF also approved a private activity bond inducement resolution for up to $26.5 million for the acquisition of 30 cemeteries around Michigan by the Cathedral of St. Augustine. The project will include renovating and improving the cemeteries and is expected to create 100 full-time equivalent jobs.

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.