Tuesday, April 18, 2006
Michael Shore, MEDC
MEDC Incentives Attract More than $516 Million in Private Investment
Governor Jennifer M. Granholm today announced four company expansions and a brownfield redevelopment project which are expected to create and retain 14,297 jobs and generate more than $516 million in private investment in communities throughout Michigan. The expansions and redevelopment are a result of assistance provided by the Michigan Economic Development Corporation (MEDC).
The five projects announced today:
- The city of Almawill partner with Alma Iron & Metal to relocate its current scrap metal recycling facility from a downtown waterfront site to an established industrial development district within the city, using state and local tax increment financing valued at $550,470. The project is expected to involve more than $2.2 million in private investment and create up to four new jobs. A portion of the tax abatement will be used to help clean up the former 10-acre waterfront site and prepare it for redevelopment.
General Motorsis considering a
Hess Industries Inc.
Otsego Paper Inc.
Second Chance ArmorSecond Chance Armor is a wholly owned subsidiary of Armor Holdings Inc., a manufacturer of branded products for the military, law enforcement and personnel safety markets.Fortune
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