Michigan Strategic Fund approves projects that will invest in state, create jobs

(FreeImages.com/Dani Simmonds)

LANSING, Mich. – Projects expected to generate nearly $187 million in total investment and create 1,445 jobs in Michigan were approved by the Michigan Strategic Fund, the Michigan Economic Development Corporation announced Tuesday.

AM General, LLC, a manufacturer of military, commercial and consumer vehicles headquartered in South Bend, Ind., is planning to move operations from a site in Livonia to a facility in Auburn Hills. The Michigan location was chosen over an Indiana location closer to the headquarters.

The company will invest $9.5 million with the move and 55 new jobs will be created.

AM General was awarded a $1.4 million Michigan Business Development Program performance-based grant.

Antolin Shelby, Inc., a subsidiary of interior auto components global manufacturer Grupo Antolin, is planning to lease a build-to-suit facility in Shelby Township. The company will be investing $61.2 million and creating 430 new jobs. The company chose Michigan over a site in Illinois, and has received a $3.6 million performance-based grant.

A company that provides indirect auto financing to consumers, Credit Acceptance Corporation, is planning to invest $33 million in Southfield, creating about 530 jobs. The company received a $2.3 million performance-based grant.

Huron, Inc., a manufacturer of complex tubular assembly components for automobile engines and transmissions, was awarded new contracts to expand its Worth Township, Mich. facility. It will be a $12.9 million investment that will create 181 jobs.

The company, founded in Lexington, Mich., chose Michigan over sites in Ohio, Pennsylvania and Kentucky, and received a $1.4 million performance-based grant.

The Kalamazoo County Brownfield Redevelopment Authority received approval of a $7,283,675 in local and school tax capture for the alleviation of brownfield conditions that will assist with the expansion of the Stryker Corporation in Portage. Stryker is a medical technology company, and the tax capture will be used for site preparation and infrastructure improvements.

Brownfield properties are land that may be contaminated with hazardous material.

The investment is estimated to be $215 million and will create and expected 105 jobs. The company was awarded a $1 million performance-based grant in December.

The City of Grand Rapids Brownfield Redevelopment Authority received approval of $675,069 for the alleviation of brownfield conditions located at 637 Michigan Street NE in downtown Grand Rapids, as well as $8,665,164 in local and school tax capture for the alleviation of brownfield conditions for the 150 Ottawa Development LLC project in downtown Grand Rapids.

The project on Michigan Street is expected to generate nearly $6.9 million in total capital investment and create 12 jobs, and the Ottawa Development is expected to generate a total capital investment of $63.5 million and create 235 jobs.

The Michigan Strategic Fund also approved a loan award up to $10 million from the MSF Investment Fund for the Michigan Community Capital Fund to facilitate investment in “attainable housing” projects.

Attainable housing is aimed at those with incomes between 60 and 120 percent of area median income.

Two innovation hubs through the Michigan Translational Research and Commercialization Statewide Program were also approved. The University of Michigan’s College of Engineering will receive $1.7 million to serve as an Advanced Transportation Innovation Hub and Michigan Technological University will receive $525,000 to serve as the Advanced Materials Innovation Hub.

A one-year contract extension was approved with Aviareps for tourism promotion services in China to attract more Chinese tourism to the state.

“The Michigan Strategic Fund took on an extensive agenda that promotes a wide array of new economic opportunities for the people of Michigan,” said Gov. Rick Snyder.