Tuesday, December 18, 2007
Bridget Beckman, MEDC
Companies investing more than $28.8 million, creating 1,337 jobs
Governor Jennifer M. Granholm today announced that the Michigan Economic Development Corporation (MEDC) is helping three high-tech companies expand in Ann Arbor. Combined, the projects are expected to create a total of 1,337 jobs and involve more than $28.8 million in new capital investment.
“These projects represent high-tech industry sectors that will drive the state’s economic transformation and create good-paying jobs,” Granholm said.
The three Ann Arbor projects announced today:
- ProQuest LLC – Acquired by Cambridge Information Group (CIG) in 2007,ProQuest is a digital repository and provider of scholarly documents from all over the world. CIG plans to grow the ProQuest business which includes building a new data center at ProQuest’s existing site in Ann Arbor. The $19 million project is expected to create 809 new jobs, including 303 directly by the company. A state tax credit valued at $10 million over 10 years helped CIG choose Michigan over a competing site in Maryland. The city of Ann Arbor has proposed to support the project through a local property tax abatement valued at $1.2 million.
- Danotek Motion Technologies– Thetechnology developer and manufacturer of Permanent Magnet Generators, Power Control Electronics and Brushless Motors for power generation industries and advance automotive applications plans to expand its operation and relocate to Pittsfield Township. The new expanded facility would accommodate the manufacture of up to 3 Mega Watt variable speed PM generators for use with wind turbines, CHP (combined heat and power) as well as brushless steering system for electric vehicle application. The new location would allow Danotek to support a fast growing renewable energy market. The project is expected to generate $7.8 million in private investment and 313 new jobs, including 141 directly by the company. A $2.3 million state tax credit helped convince the company to stay and grow in Michigan over competing states. Pittsfield Township is expected to propose local property tax abatement valued at $41,600 over seven years to support the project.
- Accuri Cytometers – The Ann Arbor-based cell analysis tools company is planning to invest $2 million to expand its ScioTownship operations to commercialize its new products. The project is expected to create 215 new jobs, including 88 directly by the company. A state tax credit valued at more than $1.4 million over 10 years convinced the company to expand in Michigan over a competing site in Colorado. Scio Township has approved support of the project with a local property tax abatement valued at $12,800 over a minimum of eight years.
“Winning these projects is always a team effort,” MEDC President and CEO James C. Epolito said.“We worked closely with the local communities and Ann Arbor Spark to make the best business case for Michigan and ensuring that these companies continue to grow and create jobs here.”
The three Ann Arbor expansions are among 14 economic development projects the governor announced today. In all, they are expected to create a total of 2,851 Michigan jobs
In her 2007 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005, the governor and the MEDC have announced the creation or retention of more than 211,000 jobs as a result of targeted assistance provided by the MEDC.
“We are delighted that the Ann Arbor region is able to end the year on such a strong development note,” Ann Arbor SPARK President and CEO Michael Finney said. “The three MEGAs announced today join the other seven that have been awarded in our area this last year. With a total of over 1,700 new jobs created and more than $65 million in investment represented by these companies, we are very optimistic about the future growth and retention opportunities in our region and state.”
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. For more information on the MEDC’s initiatives and programs, visit the Web site at www.MichiganBusiness.org.
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