Tuesday, May 15, 2007
Michael Shore, MEDC
Companies investing over $105 million in Michigan
Governor Jennifer M. Granholm today announced the Michigan Economic Development Corporation (MEDC) is helping three companies grow in Michigan and is backing three redevelopment projects expected to create and retain a total of 5,420 jobs and involve more than $105 million in new capital investment in communities throughout the state.
The six projects announced today:
- Dowding Machining LLC, a new venture of Dowding Industries Inc, will invest $7.1 million to build a new manufacturing facility adjacent to the Dowding Industries operations in Eaton Rapids
- Sparton Corporationplans to invest $2.7 million to expand its Blackman Township facility near Jackson to accommodate an expansion of its engineering and production capabilities for electronics assemblies for the aerospace industry and other applications. The project will create 188 new jobs, including 100 directly by the company. A state tax credit valued at more than $1.3 million over 12 years helped convince the company to expand in Michigan over a competing site in Florida. The MEDC is also providing a $350,000 Community Development Block Grant to assist in training new employees. Blackman Township has approved a 12-year abatement worth $650,000 to support the project.
- Ventra Evart LLC, a member of the Flex-N-Gate Group of companies, has entered into an agreement to acquire the Collins & Aikman plant in Evart
- City of Hollandwill utilize state and local tax capture of $702,000 to support removal of an existing parking lot to make way for construction of a 37,500-foot office facility and 50 to 70 parking spaces. Total capital investment of up to $9 million is anticipated with creation of 90 jobs.
- Ashley Grand Rapids LLCwill use a state brownfield tax credit of $5,425,368 to redevelop a 206.4-acre industrial property formerly owned by Steelcase and located at 36th and 44th streets and Eastern Avenue. The project, to be undertaken in 12 phases, requires demolition of three obsolete factories, redevelopment of 15 industrial and support structures plus construction of a mixed-use retail, R&D and light industrial complex. The development will lead to creation of nearly 3,600 jobs. The MEDC previously approved state and local tax capture valued at $12,661,770 to support the project, announced on March 13, which has been reduced to $7.6 million due to site plan revisions. The initial investment amount of $145 million has been scaled down to $80.6 million with an estimated 3,600 jobs created, not 3,960 as originally announced.
- City of Southfieldwill usestate and local tax capture valued at $254,738 to support the redevelopment of a contaminated three-parcel site located at the northwest corner of Telegraph and 12 Mile which previously housed a Sunoco gas station and an abandoned manufacturing facility. The developer will demolish the existing buildings on the site, remove existing underground structures and storage tanks and construct a 16,000-square-foot retail and commercial development with parking. The new development is expected to generate $3 million in capital investment and create 46 new jobs. The project is being supported by assistance from the Michigan State Housing Development Authority.
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