LANSING — The Michigan Economic Development Corp. Friday announced Michigan Strategic Fund approval of Michigan Business Development Program incentives to four companies planning expansions in the state.
The projects are expected to generate nearly $14.5 million in investments and add 442 new jobs in Michigan.
“Michigan’s comeback story is being documented almost daily with news of companies choosing to invest and grow here,” said Gov. Rick Snyder. “These four projects are proof positive that our Reinvention strategy is working and that the business-friendly reforms we have put in place are fostering new economic growth and more and better jobs for our citizens.”
The projects approved today:
* Blissfield Manufacturing Co., founded in 1946, specializes in heat transfer technology within the automotive, off-highway vehicle, commercial refrigeration, and industrial equipment markets. It currently has 90 employees in its Michigan location in Blissfield and 73 employees at its Portland, Ind. plant. Due to an anticipated expansion of its product line for a major customer, a new manufacturing line is proposed at its Blissfield facility. The company will close its Indiana facility, adding 73 new jobs at its Michigan facility and investing $1.5 million for the expansion, over the next three years. As a result, the company is being awarded a $365,000 Michigan Business Development Program incentive in the form of a performance-based grant. Blissfield is offering a 12-year property tax abatement in support of the project.
* Merhow Industries, based in Indiana, manufactures luxury horse trailers with living quarters. The company has outgrown its current location and is moving to a vacant plant in White Pigeon. The company plans to invest nearly $1.1 million and create 46 new jobs, resulting in a $200,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Indiana. White Pigeon is offering a 12-year property tax abatement valued at $42,000.
* Senderra RX Partners, a specialty pharmacy based in Texas, serves patients with chronic illnesses that have high prescription therapy costs. The company plans to establish an office in Flint Township that will support a new patient services center and house the Senderra RX accounting team. The company plans to invest $675,000 and create 170 new jobs, resulting in a $500,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Alabama and Ohio. Flint Township will offer employment assistance for the project.
* TRMI, Inc. is a subsidiary of TRAM, a manufacturer of interior electrical automotive switches. The company plans to use a new manufacturing process at its plant in Battle Creek, investing $11.1 million and creating 153 new jobs. As a result of the expansion, TRMI has been awarded a Michigan Business Development Program performance-based grant of $700,000. Michigan was chosen for this investment over competing sites in Indiana and overseas. Battle Creek is offering a12-year property tax abatement valued at $712,000.
“These projects are the result of outstanding teamwork between the MEDC and our local economic development partners in these communities to secure these projects against some very stiff competition,” said MEDC President and CEO Michael A. Finney.
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.
For more on the MEDC and its initiatives, visit: MichiganAdvantage.org. For Michigan travel news, updates and information, visit michigan.org.