Four business expansions expected to generate more than $76.8 million in total investment and create 555 jobs throughout southeastern Michigan have received approval from the Michigan Strategic Fund, the Michigan Economic Development Corp. today announced.
“The decision by these companies to expand in Michigan demonstrates our state’s greatly improved and diverse business climate, as well as the strength of our state’s manufacturing talent pool,” says Steve Arwood, MEDC’s CEO. “We’re pleased to support these projects, which will mean more jobs and greater economic opportunities for people in Southeast Michigan.”
One of the companies selected is Kingfa Science & Technology, Inc. — a subsidiary of China-based Kingfa Sci and Tec Company, Ltd. — one of the world’s largest suppliers of engineering plastic resins worldwide. The company primarily engages in research, development, production, and sale of modified plastic products. Their main products include flame-retardant resins, reinforced resins, toughened resins, and polymeric alloys. The company plans to expand its manufacturing operations in Canton Township, investing $60 million and creating 150 jobs with the support of a $1 million Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Ohio, and Canton Township has offered support to the project in the form of property tax abatement.
Similarly, Valeo North America, Inc. — a subsidiary of Paris-based automotive supplier Valeo SA — has plans to construct a low-speed test track and a new supporting building in Auburn Hills, as well as make improvements at its North American headquarters in Troy. The technology company proposes innovative products and systems that contribute to the reduction of carbon dioxide emissions and to the development of intuitive driving.
The project is expected to generate a total private investment of nearly $5 million and create 290 jobs, resulting in a $1 million MBDP performance-based grant after Michigan was chosen over several competing sites in Ohio, Tennessee, Mississippi, and Mexico. The cities of Troy and Auburn Hills have offered to support the projects with staff time, marketing assistance, and tax abatement.
ABB, Inc. — a global leader in power and automation technologies and subsidiary of Zurich-based ABB Group — also has plans to expand in Michigan. ABB’s North American operations are head quartered in Cary, North Carolina, and the company has production facilities nationwide, including one in Auburn Hills. ABB plans to invest $9.1 million in new equipment and expand its robotic production at that facility, creating 40 jobs. The company has been awarded a $250,000 MBDP performance-based grant, after choosing Michigan over competing sites in North Carolina, Georgia, China, and Sweden.
Macomb Smoked Meats, a jerky and smoked meat snacks producer for its parent company, Colorado-based Thanasi Foods, LLC, and other customers, was also rewarded for plans to acquire a building adjacent to its Macomb Township production facility. Due to growing demand, the company plans to invest $2.8 million and create 75 jobs to accommodate increased production. Macomb Smoked Meats was awarded a $250,000 MBDP performance-based grant and was offered tax abatement or staff time after selecting Michigan over a competing site in Chicago.