– 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.
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.
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
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.
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.
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.
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
Michigan Economic Development Corporation (MEDC)
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
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