Incentives Spark Business Expansion in Vernon Township, Michigan
The company plans to begin production of a new hard fusion-welded product. According to Michigan Economic Development Corporation, the project is expected to generate a total capital investment of $2.65 million and create 40 jobs, resulting in a $250,000 Michigan Business Development Program performance-based grant.
“Our family of companies has called Shiawassee County home since its inception,” said Great Lakes Family of Companies Business Development Manager Joe Libby. “We are thrilled to provide high-quality jobs to our team and through the assistance of the Michigan Economic Development Corporation and the Shiawassee Economic Development Partnership we will continue our growth through innovation and hard work.”
In addition, Shiawassee Economic Development Partnership offered to assist the company with finding candidates for the new jobs.
“The Great Lakes team is making a major investment in their business and property in Vernon Township, and we are grateful for their commitment to our community. We are also very thankful for the support received from MEDC, which will help to accelerate their job growth here in Shiawassee County,” said Shiawassee Economic Development Partnership President & CEO Justin Horvath.
In other actions, The County of Shiawassee Brownfield Redevelopment Authority received Michigan Strategic Fund approval of a brownfield plan, including $988,500 in local and school tax funding, to support a speculative building development project that will be located on M-71 in Vernon Township.
According to MEDC, the project will redevelop property that is currently covered in large diameter-concrete culverts that prevent business expansion. A planned project following cleanup includes construction of a speculative 100,000-square-foot manufacturing facility that will include office space and loading bays.
The project is expected to generate a total capital investment of $7.5 million and create 40 full-time equivalent jobs. The tax capture consists of $617,911 in state and $370,589 in local taxes, which will be used to alleviate the brownfield conditions at the site.
“We are very grateful for the support received from the Michigan Strategic Fund, which is a true catalyst in turning this blighted industrial property into a highly productive space that will create jobs and investment in our community,” said Horvath. “Special thanks to Vernon Township, the Shiawassee County Brownfield Redevelopment Authority, Shiawassee County Board of Commissioners, AKT Peerless Environmental Services and state Representative Ben Frederick for their leadership in moving this project forward.”
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