A wide range of projects including additional funding for the American Center
for Mobility, several business expansions and community revitalization projects
around the state, and support for entrepreneurship received Michigan Strategic
Fund approval today, the Michigan Economic Development Corporation announced.
The projects include a $1.5 billion
investment by FCA in its Sterling Heights operations and a new manufacturing
facility locating in Flint that will create 380 jobs.
“The investment approved today will bring
up to 400 new jobs to Flint, in an innovative venture that turns recycling into
auto parts,” said Gov. Rick Snyder. “The state will continue to support the
city during its water recovery, and in addition will remain involved in
long-term economic development. I’m very pleased to see this manufacturing
plant established within the city, and hope it is the first of many new
employers to invest in Flint.
“The approval of additional funding for
the American Center for Mobility will further establish Michigan’s leadership
in testing connected and intelligent vehicle technology and strengthen
Michigan’s economy as we move forward.”
MSF today approved a $17 million investment
from the Investment Fund to the Willow Run Arsenal of Democracy Landholdings
Limited Partnership toward finalizing the acquisition of land at Willow Run, and
facilitate the design, construction costs and operations for the completion of
Phase I of the connected and automated vehicle facility to be developed and
operated by the American Center for
Mobility. The center, located at the Willow Run site in Ypsilanti Township, will help
accelerate advanced mobility vehicle development safety while bringing economic
opportunity to southeast Michigan and the United States. The project is a multi-layered
initiative among the Michigan Strategic Fund, Michigan Department of Transportation, the Michigan
Department of Environmental Quality,MEDC, and many county
and local authorities. ACM’s board of
directors includes members designated by the University
of Michigan, Business
Leaders for Michigan and Ann Arbor
Last week, MEDC and RACER Trust announced a purchase agreement for the
acquisition of land at Willow Run. At its March 2016 meeting, MSF
approved a $2,999,900 million performance-based grant and a $100 equity
investment to the Willow Run Arsenal of Democracy Landholdings Limited
Partnership. More information on the American Center for Mobility can be found
at www.acmwillowrun.org.To learn more
about the future of mobility and why it’s important to Michigan, visit here: https://youtu.be/EkxOWjyuOZ0.
The following projects are expected to generate in total
nearly $1.7 billion in total investment and create 512 jobs in Michigan:
Venture Flint, LLC is a newly formed organization established by experienced
automotive and real estate veterans that will recycle plastics into auto parts.
C3 will further incubate several other job creation business lines in the
fields of clean air, water, energy and soil with a focus on recycling and up
cycling of industrial materials. The company will establish its U.S.
headquarters in the city of Flint to house operations. The project is
expected to generate nearly $9.7 million in capital investment and create 380
qualified new jobs, resulting in a $5.7 million Michigan Business Development
Program performance-based loan which has the ability to convert to a grant based on job creation
milestones. Michigan was chosen over competing sites in California and Indiana.
The Flint and Genesee Chamber of Commerce is supporting the project in the form
staff time. For more information about careers with C3 Venture Flint, contact
Sherry Goble via email at email@example.com phone at 810 233-5974 ext. 353.
will invest $1.48 billion in its Sterling
Heights Assembly Plant to produce the next-generation Ram 1500 pickup
truck. The FCA US investment comes after the company reviewed other possible
Midwest production locations. As a result, the Michigan Strategic Fund today
approved an alternative exemption from the State
Essential Services Assessment for the Auburn Hills-based automaker valued at
$11.3 million. The exclusion serves as an incentive for projects that result in
significant investment in eligible manufacturing personal property. FCA US has
invested $8.2 billion and created nearly 25,000 jobs in the U.S. since 2009.
The city of Ferndale Brownfield
Redevelopment Authority received MSF approval of $2,241,384 in local and school
tax capture for Ferndale Haus Lofts,
a new, mixed-use development with integrated parking at the former Save-A-Lot
site in downtown Ferndale. The
completed project will consist of approximately 90 market-rate apartments and
will include approximately 10,800 square feet of retail/office space. The
project will demolish a vacant and underutilized site that is currently an
eyesore, bringing much needed residential space and increased economic activity
to the downtown area. The project is expected to generate a total capital
investment of more than $17.9 million and create approximately 14 full-time
equivalent jobs. The tax capture will be used for brownfield alleviation
activities at the site, including asbestos abatement, demolition, site
preparation and infrastructure improvements.
601 West LLC plans to
redevelop a vacant site to construct two mixed use buildings for commercial and
residential space in downtown Grand Rapids at the intersection of Lake
Michigan Drive and Seward Avenue. The completed project will be a five-story
mixed-used building and an adjacent three-story mixed use building. The project
will result in ground floor commercial space, market rate apartments for lease
and underground parking on the site. This project is located immediately
adjacent to Grand Valley State University’s downtown campus where there is
significant pressure for additional residential units. The project will
generate a total capital investment of $19 million and create 15 permanent
full-time equivalent jobs, resulting in a $2.9 million Michigan Community
Revitalization Program performance-based loan.
In addition, the
City of Grand Rapids Brownfield Redevelopment Authority has received MSF
approval for $3,674,190 in local and school tax capture for the project. The
funds will be used alleviate brownfield conditions at the site and prepare it
for construction, including asbestos and lead removal, demolition, site
preparation activities and infrastructure improvements.
Kent County received approval of an MSF
Designated Renaissance Zone for 15 years for the Switch, Ltd. Data Center located at the former Steelcase Inc.
pyramid in Gaines Charter Township. Founded
in 2000, Switch is a privately held company headquartered in Las Vegas that
operates and develops industry-leading, carrier-neutral, multi-tenant data
center properties. Its customers include eBay, PayPal, Shutterfly, MGM, Intuit
and Box. The company evaluated locations on the east coast to open its eastern
U.S. data center campus and selected the pyramid site in Gaines Charter Township.
The campus, SUPERNAP Grand Rapids, will be the largest colocation data center
in the eastern U.S., with an expected total private investment of nearly $151.2
million and the creation of 103 jobs.
Michigan was chosen over competing sites
in numerous other states, many of which offered sales and use tax exemptions
and/or property tax abatements. The Renaissance Zone designation in Kent County
will be used to abate personal property taxes. The company has agreed to pay
Kent County and Gaines Charter Township an amount equal to all real property
taxes for the duration of the designation. Individuals interested in career
opportunities with Switch, Ltd. Data Center should visit https://www.supernap.com/careers.html.
addition, MSF approved the Michigan Translational
Research and Commercialization (MTRAC) Life Science Innovation Hub for
University of Michigan Medical School Fast Forward Medical Innovation. MSF also
approved $2 million, matched with $2 million by UM, in MTRAC funding to support
technology transfer for the commercialization of competitive edge life science
including providing additional funding for the American Center for Mobility,
business expansions and important revitalization projects in downtown Ferndale
and Grand Rapids, will fuel new economic activity across Michigan, strengthen
communities, and create well-paying jobs for our residents,” MEDC Chief
Executive Officer Steve Arwood said.
Pure Michigan is a
brand representing business, talent and tourism initiatives across
Michigan. These efforts are driven by the Michigan Economic Development
Corporation, which serves as the state’s marketing arm and lead advocate for
business growth, jobs and opportunity with a focus on helping grow Michigan’s
For more on the MEDC and its initiatives,
visit MichiganBusiness.org. For Michigan
travel news, updates and information, visit michigan.org. Michigan
residents interested in seeking employment with any of Michigan’s growing
companies should check mitalent.org, where more than
101,000 jobs are currently available in a variety of industries.