LANSING — The Michigan Economic Development Corp. Friday announced Michigan Strategic Fund approval of an $875,000 Michigan Business Development Program incentive to HCL America Inc. for its new location in Jackson, a project that will generate up to $3.35 million in new private investment and add 300 new jobs.
HCL America, a wholly owned subsidiary of India’s HCL Technologies, provides enterprise and custom applications, infrastructure management, business process outsourcing and engineering services for a wide range of industries including financial services, manufacturing, consumer services, public services and health care.
HCL America has won a contract to provide IT services to Consumers Energy and proposes to invest up to $3.35 million to expand its existing Michigan operations by establishing a new location in Jackson. The project will result in the creation of up to 300 new jobs.
Michigan was chosen over competing sites in other states. Jackson city government has offered support to the project in the form of a 12-year tax abatement.
Signed into law by Gov. Rick Snyder in December, the Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
The MSF will consider a number of factors in making these awards, including: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.
The Michigan Business Development Program replaces the state’s previous MEGA program that was a feature of the Michigan Business Tax that was eliminated under business tax restructuring legislation approved and signed into law by Snyder in May 2011.
More at www.MichiganAdvantage.org.