Subscribe
Close
  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Renew

Michigan Strategic Fund Approves Incentive Grants To Assist Business Expansion

01/29/2015
Michigan Strategic Fund approved two business expansion projects that will generate tens-of-millions in new capital investment dollars and create almost 500 jobs throughout the Great Lakes State.

“Today’s MSF actions will further boost Michigan’s turnaround by generating new opportunities for our families and businesses,” said Michigan Economic Development Corporation CEO Steve Arwood. “These investments will help to revitalize our communities, create jobs for our residents, and strengthen Michigan’s workforce.”

Approved incentive grants are;

Forest River Manufacturing, a manufacturer of recreational vehicles including travel trailers, fifth wheels, pop-up tent campers, park model trailers, destination trailers, commercial vehicles, buses and pontoons, is launching new products and plans to construct three facilities in the Village of White Pigeon, Michigan.

The project will generate a total capital investment of more than $7 million and create 396 jobs in St. Joseph County resulting in a $350,000 Michigan Business Development Program performance-based grant.

The Village of White Pigeon is offering support to the project in the form of property tax abatement. In addition, MSF awarded the Village of White Pigeon $1.6 million in Community Development Block Grant funds for the Forest River project. The funds will be used toward on-the-job training for 264 employees at the new facilities.

Toyota Motor Engineering & Manufacturing North America, Inc., is engaged in engineering design, vehicle evaluation, materials research, prototype building, powertrain tuning, safety/crashworthiness, regulatory affairs and advanced research for Toyota and Lexus vehicles manufactured or sold in North America.

The company has R&D facilities in Ann Arbor Charter Township, York Township, Plymouth and Livonia. In August the company announced plans to relocate its direct procurement operations from Erlanger, Kentucky, to its campus in York Charter Township as part of an increased investment in engineering capabilities. The expansion required the company to construct a new facility at its York Township location, investing up to $32.5 million and creating 250 jobs.

As a result, Toyota was awarded a $4 million Michigan Business Development Program performance-based grant. The company is also proposing to expand its Ann Arbor Charter Township facility, investing $75.15 million and creating 85 jobs. As a result, the company’s MBDP grant has been increased by $1 million. Ann Arbor Township has offered support to the project in the form of property tax abatement. In addition, Ann Arbor SPARK has provided ongoing support to Toyota, working with regional and state partners on incentives as well as helping the company with tours of the region for relocating workers.

Article Discussion

Follow Area Development

Share