Strategic Fund Incentive Grants Assist Firms With Expansion In Detroit And Sterling Heights, Michigan
“Michigan leads the nation in creating manufacturing jobs, and these new expansions will keep us moving in the right direction,” said Michigan Economic Development Corporation President/CEO Michael A. Finney. “Today’s investments will all lead to greater economic opportunities for Michigan residents, drive future business investment, and create more and better jobs.”
The Michigan Strategic Fund approved incentives for the following projects:
In Sterling Heights Lippert Components Manufacturing, a subsidiary of Drew Industries Incorporated, supplies a broad array of components for the leading manufacturers of recreational vehicles, as well as adjacent industries including buses; trailers used to haul boats, livestock, equipment and other cargo; truck campers; truck caps; manufactured housing; modular housing; and factory-built mobile office units.
Lippert recently acquired Innovative Design Solutions, Inc., a Sterling Heights-based designer, developer and manufacturer of electronic device technology systems that encompass a wide variety of RV applications. The company plans to retain and grow the IDS operations in Sterling Heights, investing up to $1.7 million and adding 102 new jobs.
As a result, the project has been awarded a $200,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Indiana. The City of Sterling Heights is offering support to the project in the form of free use of public facilities related to the project.
In Detroit Oakland Stamping, a division of L&W Engineering, manufactures stampings and welded assemblies for the auto industry. The company plans to expand its operations at one of its campus buildings in Detroit, investing up to $10.1 million and creating 100 jobs.
As a result of the expansion, the project has been awarded a $300,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Ohio and Tennessee. The City of Detroit is supporting the project in the form of a property tax abatement.
Trends in Office and Industrial Parks
“Made in America” Executive Order to Affect International Companies and FDI
34th Annual Corporate Survey & the 16th Annual Consultants Survey
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Another Look at Rural Economies
2019 Leading Metro Locations: Pacific and South-Atlantic Metros Dominate the List