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Michigan Funds More Than 7,180 New Jobs

03/17/2010
The Michigan Economic Development Corporation announced today funding for 11 in-state companies and two brownfield redevelopment projects to expand their businesses and hire new workers. The projects will create more than 7,180 new jobs, retain more than 780 jobs, and generate more than $742 million in the state.

ADCO Products Inc., a producer of sealants and adhesives for construction and transportation, received a $1.2 million state tax credit over five years to encourage expansion in Michigan instead of Indiana.

Masco Cabinetry Company, which manufactures kitchen and bath cabinets, received a $7.3 million tax credit over 10 years to create new jobs, and a $5.7 million tax credit over 10 years to retain jobs.

Oshkosh Corporation, a manufacturer of emergency and military vehicles and equipment, received a $6.4 million state tax credit over 12 years to encourage expansion in Michigan instead of Wisconsin.

Toda America will receive a $7.9 million brownfield tax credit, and a $35 million grant from the U. S. Department of Energy.

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