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Online Futures Trader Relocating, Adding Jobs in Michigan

03/20/2009
Global Futures & Forex Ltd., an operator of online foreign currency and futures trading systems, will invest $13.8 million to relocate its headquarters to a larger facility in Grand Rapids, Michigan, according to the Michigan governor's office. The company, which operates under the name Global Forex Trading (GFT), plans to create 103 new jobs with the move. MLive.com reports that the majority of the investment will go toward new high-tech equipment purchases. GFT will move into an unoccupied building in the city of Grand Rapids, retaining 146 employees along with the anticipated new hires. The governor's office says the state successfully competed with Indiana for the relocation. Incentives offered to GFT include a tax credit valued at approximately $1.3 million over seven years; local government agencies have also approved tax abatement.

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