Granholm Hails Solidica in Ann Arbor
Michigan Gov. Jennifer M. Granholm Monday visited Solidica, a growing defense contractor and three-time winner of Technology Tri-Corridor and 21st Century Jobs Fund commercialization and business plan competitions. She told Solidica's employees that the company's success provides a strong demonstration of Michigan's growing entrepreneurial culture.
"Solidica is a shining example of the kind of entrepreneurial, high-tech company we're partnering with to diversify and grow Michigan's economy," Granholm said. "Through the 21st Century Jobs Fund, we now have a portfolio of 106 companies like Solidica growing and creating jobs in the competitive-edge technologies of life sciences, clean energy, advanced manufacturing, and homeland security and defense."
Solidica is focused on development and commercialization of advanced materials and electronics for truck fleets with military and commercial applications. The company has leveraged $2.8 million from the 21st Century Jobs Fund and its predecessor, the Technology Tri-Corridor program, into $5 million from the U.S. Department of Defense and $8 million in sales.
The company has 23 employees at its Ann Arbor manufacturing operations and was named among the Michigan 50 Companies to Watch in 2007. More than 60 percent of the company's employees are alumni of Michigan universities.
The 21st Century Jobs Fund is a $2 billion, 10-year initiative proposed by Granholm, approved by the Michigan Legislature in 2005, and administered by the Michigan Economic Development Corp. to accelerate the diversification of Michigan's economy. Since 1999, through the 21st Century Jobs Fund and its predecessor programs, the state has invested more than $850 million in technology commercialization and start-ups with projected job creation and retention of more than 26,000 jobs to date.
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