Michigan Strategic Fund Approves $82 Million In Business Expansions
“From manufacturing to IT to food production, these seven projects will further revitalize our communities and bring new jobs to our residents,” said MEDC CEO Steve Arwood. “The commitment of these companies to grow and create jobs here demonstrates the significance of our greatly improved business climate and infrastructure.”
The Michigan Strategic Fund approved Michigan Business Development Program incentives for the following projects:
Cargill Kitchen Solutions, Inc., formerly Sunny Fresh Foods, a leading marketer of high value, further-processed egg products, has the opportunity to take on a new account and bring those operations to Lake Odessa Township, Michigan, which will be expanded to accommodate the additional production. The project will generate a total capital investment of $27 million and create 35 jobs, resulting in a $262,500 Michigan Business Development Program performance-based grant. Lake Odessa Township has offered support to the project in the form of a 12-year property tax abatement valued at $284,000.
Gentherm Incorporated, a global developer of innovative thermal management technologies for a broad range of temperature control applications, plans to bring its engineering and testing operations to Michigan. In order to accommodate this growth, Gentherm will renovate its headquarters facility in Farmington Hills and acquire a second building. The project will generate more than $8.4 million and create 150 jobs, resulting in a $750,000 Michigan Business Development Program performance-based grant. The City of Farmington Hills is providing support by waiving permit fees related to the project.
MIG Molding, a roll form co-extrusion tooling and production injection molding company that was recently formed to support its sister company Vintech Industries, plans to lease a recently purchased building from Vintech located in the Village of Almont for a new manufacturing facility. The company will invest more than $1.2 million and creating 32 jobs. As a result, the company has received a $105,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Indiana. Almont Township has approved an Industrial Facilities Tax Exemption transfer to the project.
OMT-Veyhl USA Corporation, based in Holland Charter Township, designs, develops and markets high quality ergonomic office furniture. The company plans to construct an addition at its current facility to expand its manufacturing capacity. The project will generate a total capital investment of $8.8 million and create 206 jobs, resulting in a $750,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Idaho and California. Holland Charter Township has offered support to the project in the form of property tax abatement.
Orbbec 3D Technology International is a newly established North American entity. Its parent, based in Shenzhen, China, has developed 3D solution including 3D sensor, artificial intelligent RGB-D cognition platform and gesture driven Natural User Interface. The products serve a growing number of markets including smart TVs, gaming consoles, and tablets as well as the automotive industry and smart phone industry. The company plans to establish a headquarters and technical center in Troy, investing more than $3.2 million and creating 40 jobs related to R&D and engineering of 3D sensor applications. As a result, the company has been awarded a $300,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in California. The City of Troy has offered support to the project in the form of marketing and promotional assistance and complimentary community center passes for employees.
Sensient Flavors is a subsidiary of Sensient Technologies, a global manufacturer and marketer of food grade colors, flavors and fragrances. The company plans to expand its facility in Harbor Beach, Michigan, making a significant multi-million dollar investment and creating 28 jobs. As a result, the company has been awarded a $150,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Wisconsin. The City of Harbor Beach is offering support to the project in the form of property tax abatement.
MSF also approved one Michigan Community Revitalization Program project:
Cedar Springs Brewing Company and 95 North Main plan to demolish an existing blighted building in downtown Cedar Springs and replace it with a new brewery and restaurant. The project is expected to generate a total capital investment of more than $1.5 million and create 15 full-time equivalent jobs, resulting in a Michigan Community Revitalization Program performance-based grant of $285,614. In addition, the City of Cedar Springs Brownfield Redevelopment Authority received approval for local and school tax capture in the amount of $56,800 to alleviate brownfield conditions at the site. The City of Cedar Springs is supporting the project with a PA 198 Industrial Facilities Tax Exemption valued at $130,000 and contributing $31,178 in local funds toward the brownfield redevelopment plan.
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