Tuesday, May 18, 2004
Nine Companies to Invest More Than $90 Million
"The jobs we are announcing today are the kind of jobs that are critical to creating Michigan's 21st century economy," Governor Granholm said today. "Their diversity and sheer number are proof that Michigan's business climate remains friendly to companies that want to invest and create jobs here. Clearly, our state and local economic development initiatives and our top-notch workforce have what it takes to make Michigan an economic powerhouse in the 21st century."
In her 2004 State of the State address, Governor Granholm announced a focused plan for growing Michigan's economy and maintaining the quality of life that Michigan residents have come to expect. To date, the Governor and the MEDC have announced the creation or retention of approximately 14,321 jobs as a result of targeted assistance provided by the MEDC in 2004.
Kellogg Company (Battle Creek): The company plans to relocate its U.S. Snacks business unit to Battle Creek, resulting in the addition of 538 jobs, including 300 directly by the company. A Single Business Tax credit worth approximately $3.7 million over the next five years, combined with local assistance and the prospect of a Michigan Agricultural Renaissance Zone, helped convince Kellogg to invest $3.2 million to relocate the unit to Michigan from Elmhurst, Ill.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.
Nine MEGA Projects
Combined Economic Analysis
(All estimates in 2004 dollars)
|TOTAL JOBS CREATED/RETAINED||8,683|
|NET POSITIVE STATE REVENUE IMPACT||$363,212,000|
|Personal Income Generated Over||$5,499,016,000|