The Michigan Strategic Fund has approved multiple projects across the state aimed at growing economic opportunities in the state.
Detroit and Sterling Heights are benefiting from the funds and will have projects developing infrastructure for two headquarters.
“Our investment into the former AMC Headquarters works to redevelop the former site for long-term sustainability by putting the site back into production, regenerating taxes into the community, and further strengthening the economy through job creation,” NorthPoint Development Vice President of Development Tim Conder said in a press release.
The release states that the 790,000-square-foot building closed in 2009 and the state predicts that the total capital investment of this project is $66 million. The space will allow for more than 350 full-time jobs to operate out of the redeveloped building.
“Today is the culmination of five years of intensive work by the DEGC and the city of Detroit listening to neighborhood residents, and steadfastly working to solve how to fund the more than $30 million in environmental cleanup and demolition work required to redevelop this longstanding eye sore back into the economic engine and job center it used to be for this neighborhood and our city,” writes Detroit Economic Growth Corporation Executive Vice President of Economic Development & Investment Services Kenyetta Bridges in a press release.
Along with redevelopment in Detroit, another headquarters will be built in Macomb County.
The American Rheinmetall Vehicles, LLC plans on building a new North American headquarters in Sterling Heights. According to a press release, the new facility will offer office and manufacturing space for prototyping operations. Currently, the company employs about 25,000 people and has 133 locations worldwide.
The state announced that this project is projected to create more than 150 jobs and generate a minimum of $3 million in investments.
“We’re very grateful for all that MEDC has done to support our effort to grow our business here in Michigan,” American Rheinmetall Vehicles Managing Director Matt Warnick writes in a press release. “This new facility allows us a growth path that positions us to increase critical capacity and competition in the combat vehicle defense industrial base in Michigan and the U.S. as a whole.”