Two business expansions that will generate more than $28 million in total investment and create 142 jobs in Michigan have received approval from the Michigan Strategic Fund.
“The successful expansion of these companies is a testament to Michigan’s growing economy and our state’s talented and abundant workforce,” says Steve Arwood, Michigan Economic Development Corp. CEO. “The decision by these companies to invest here rather than in other states means excellent jobs for Michigan residents and offers further evidence of our commitment to helping companies grow and generate new jobs for our residents.”
Lineage Logistics, a warehousing and logistics company currently headquartered in Irvine, Calif. plans to relocate its headquarters to be more proximal to its growing customer base in the Midwest and East Coast. The company will establish a new headquarters in Novi, investing over $8.1 million and creating 92 jobs, resulting in a $850,000 Business Development Program performance-based grant. The City of Novi has offered to support the project in the form of property tax abatement and staff assistance, after Michigan was chosen over a competing site in Illinois.
Headquartered in Hillsdale, Paragon Metals, a global supplier of precision-machined components for automotive and industrial markets, also has plans to expand their Michigan footprint. The company has been awarded new contracts and plans to expand operations in Hillsdale, investing nearly $20 million and creating 50 jobs. The company has been awarded a $250,000 Michigan Business Development Program performance-based grant, and the City of Hillsdale has offered partial reimbursement for electrical upgrades to the existing building. Michigan was chosen over a competing site in South Carolina.