LANSING (WWJ) — Chicago-based Coyote Logistics LLC will establish a new location in Ann Arbor, a $1.2 million investment that will generate up to 125 new jobs.
The Michigan Economic Development Corp. Wednesday announced approval of a $1 million Michigan Business Development Program incentive to support the project.
Coyote Logistics provides North American shippers with full-scale, third party logistics and transportation services. Recent rapid growth prompted the search for an expansion site. State officials said Ann Arbor was chosen over competing sites in Texas, California and Colorado.
The city of Ann Arbor and Washtenaw County’s economic development agency, Ann Arbor Spark, will offer financial support to assist with recruitment efforts.
“Coyote Logistics is the latest example of a company attracted to the Ann Arbor region because of the talent that’s here, and another CEO choosing to expand into the city they fell in love with while in college,” said Paul Krutko, Ann Arbor Spark’s president and CEO. “Since the beginning of 2013, Ann Arbor Spark has assisted with 26 company projects in the region that will create $92.9 million in investment and 714 jobs. Ann Arbor is a destination for tech companies thanks to its concentration of smart workers and smart companies as well as the great lifestyle offered by our region. The 125 high tech jobs that Coyote Logistics will create in Ann Arbor is part of the virtuous cycle that continues to feed our economic success.”
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 state considers several 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.