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Tuesday, February 9, 2021
• Two projects building on Governor Whitmer’s Back to Work Michigan plan expected to generate total private investment of $7.1 million, create 266 jobs • Energy storage provider Navitas adding second facility in Scio Township, creating 111 well-paying jobs • National mortgage lender Homepoint expanding in Ann Arbor, adding 155 jobs in the state’s professional services industry
LANSING, Mich. – Two projects expected to generate 266 new, well-paying jobs and generating a total private investment of $7.1 million in the Ann Arbor region have received support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
“Today’s announcement is building on the Michigan Back to Work plan, announced during my State of the State Address to grow our economy and get Michiganders back on their feet,” said Governor Gretchen Whitmer. “These business expansions in Ann Arbor demonstrate our continued commitment to ongoing economic recovery by securing diverse projects that will grow long-term economic health and opportunity for our workforce across the state.”
Announced on Jan. 27, the Michigan Back to Work plan is intended to protect, grow, and create good-paying jobs. Over the next year, the Whitmer Administration will announce initiatives and projects big and small – from tech, mobility and manufacturing growth, to clean energy and road construction – all resulting in good jobs for Michigan residents.
Navitas Systems is a leader in integrated design, technology development, and manufacturing of innovative energy-enabled system solutions and energy storage products for commercial, industrial, and government agency customers. Navitas Systems’ products range from customized energy storage solutions for defense-related applications to custom renewable energy integrated power systems.
The company is located in Ann Arbor, with both a 48,000-square-foot R&D, engineering, and manufacturing center, as well as a 100,000-square-foot lithium battery systems manufacturing center. In 2013, Navitas was awarded a $1 million Michigan Business Development Program grant for the creation of 125 new jobs and a $9.2 million investment at its facility in Pittsfield Charter Township. The company has since exceeded the job requirement and closed out the MBDP successfully.
Navitas is experiencing growth in its commercial segment and plans to expand into a second facility in Scio Township, where it will house its commercial battery manufacturing, additional engineering resources and battery cell production, and office space. The project is expected to generate a total private investment of $3.36 million and create 111 high-paying new jobs, resulting in a $750,000 MBDP performance-based grant. Michigan was chosen over competing sites in Illinois and Pennsylvania.
“We appreciate the opportunity to continue our development path in the state of Michigan. The job incentive grant is an important part of our justification for making the additional investments in Ann Arbor as compared to other sites,” said Alan Elshafei, founder and CEO of Navitas Systems. “MEDC has been a strategic partner for Navitas since 2013 and we appreciate the confidence MEDC has placed in our company as well as the resources to help turn our plans into new jobs and opportunities.”
The project aligns with MEDC’s focus industries of automotive manufacturing, engineering, design, and development as well as advanced manufacturing. Navitas is focused on promotion from within and provides a complete benefits package and tuition reimbursement to its employees. Ann Arbor SPARK has worked to help further the company’s success since 2013, through a range of activities including support in finding key talent, staff time, and other resources. For information on careers with Navitas, visit here.
In August 2019, East Penn Manufacturing partnered with Navitas Systems and acquired majority interest in the company. East Penn is a privately-owned company operating the largest single-site battery manufacturing facility in the world.
Homepoint is a national multi-channel mortgage loan originator and servicer. The company, which has quickly grown into the third-largest wholesale mortgage lender in the country, funds residential mortgage loans in all 50 states through its network of mortgage broker and correspondent partners.
In 2018, Homepoint announced plans to relocate its headquarters facility to Ann Arbor Township, investing more than $4 million and creating 50 high-paying jobs. As a result of the expansion and job creation, the company was awarded a $360,000 MBDP performance-based grant from the Michigan Strategic Fund.
The company has met its hiring milestones and, due to continued rapid growth, is looking to add an operations center in Ann Arbor, a project that will generate an additional private investment of $3.7 million and create 155 new jobs. The positions will include originators, underwriters, closers and disclosure analysts. The Michigan Strategic Fund today approved an increase of the total new jobs from 50 to 205, resulting in an increase of Homepoint’s MBDP grant from $360,000 to $960,000. The terms of the agreement were extended from June 1, 2021 to Dec. 1, 2023. Michigan was chosen over an alternate site in the Midwest.
Homepoint provides individual training development for its associates along with organization-wide career opportunities. The project also supports MEDC’s strategic focus of supporting companies that create jobs in the professional and corporate services industry. Ann Arbor SPARK is supporting the project with staff time and resources. Individuals interested in careers with Homepoint should visit Homepoint.com/careers.
“The growth of Navitas Systems and Homepoint here in Michigan is an important signal that our strategy for long-term economic growth in Michigan is continuing to create a path for job growth in our state, even in a challenging economic environment,” said MEDC CEO Mark A. Burton. “We appreciate the continued confidence and investment of both of these companies in the Ann Arbor area and the ongoing partnership with Ann Arbor SPARK on growth opportunities in Michigan.”
“Navitas and Homepoint are in radically different industries but both continue to expand in the Ann Arbor region, showing the strength of our economy to support a range of businesses,” said Paul Krutko, president and CEO of Ann Arbor SPARK. “Ann Arbor SPARK helped connect both of these businesses to the exact support they needed to continue to grow and helped them navigate the process of securing resources from the state. Especially today, it’s exciting to see businesses invest and create jobs in our community.”
More information on Navitas Systems is available at www.navitassys.com as well as Deka Ready Power lithium forklift battery information at www.dekareadypower.com. Follow us on LinkedIn at www.linkedin.com/company/navitas-systems-llc. More information on East Penn Manufacturing can be found at www.eastpennmanufacturing.com. From advanced R&D, safe/high energy cell design, in-house custom lithium cell manufacturing, to sophisticated battery pack assembly including in-house designed battery management systems, Navitas is a premier source for comprehensive energy storage solutions.
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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