Michigan Economic Development Corp., via the Michigan Strategic Fund, on Tuesday approved funding support for several projects across the state, including support for business expansion projects, including Detroit, Auburn Hills, and Lansing.
In total, the projects during MSF’s board meeting are expected to generate more than $153 million in investment around the state and create or retain 672 jobs for Michiganders.
In Detroit, the Coda Brush Park project north of Comerica Park includes the rehabilitation of an existing single-story building and construction of additions that will result in a five-story, mixed-use development in the Brush Park neighborhood. When complete, the project will include a ground-level restaurant and bar, a second-story office, and three stories of for-sale condominiums and integrated parking.
The project is expected to generate a total capital investment of $27.9 million and create 45 full-time equivalent jobs, and will help meet demand for restaurant, housing, office, and parking space in the neighborhood. In addition, it will bring long-vacant property back to productive use, add vibrancy and density, and generate additional economic activity in the area.
The City of Detroit Brownfield Redevelopment Authority today received MSF approval of $1,218,829 in state tax capture for the reimbursement of eligible brownfield activities at the site. The city of Detroit is supporting the project through the approval of the local tax capture valued at $1.2 million. The city of Detroit is engaged with MEDC’s RRC program.
“The Detroit Brownfield Redevelopment Authority supports this exciting, new mixed-use project for CODA Brush Park that will add jobs, housing and vibrancy to this historic community,” says Brian Vosburg, director of brownfield redevelopment at Detroit Economic Growth Corp. “We’re also pleased there will be elements of the original structure incorporated into the new development, reflective of the community’s rich history.”
In Auburn Hills, Dana Thermal Products, LLC, a subsidiary of Dana Inc., a global leader in thermal management technologies for the mobility industry, plans to lease a facility to support a new battery cooling plate manufacturing operation. The company’s parent employs more than 40,000 people in 31 countries.
Dana provides various thermal management technologies including battery cooling plates, cold plates, and power electronics cooling to global automakers. The company anticipates that one of its largest opportunities for growth is within the electrification market and is investing to position itself as a leader in EV technologies as core customers and markets are making the shift.
The project is expected to generate a total capital investment of $54.2 million and create 200 jobs, supported by a $2.5 million Michigan Business Development Program performance-based grant. Michigan was chosen for the project over competing sites in the Southeast U.S. and Canada.
The project contributes to the MEDC’s ongoing efforts to strengthen Michigan’s leadership in automotive manufacturing and builds on the state’s work to position itself as the global leader in the future of mobility and vehicle electrification. Dana chose Michigan for the project because of the manufacturing and engineering talent as well as the proximity to automotive customers.
The city of Auburn Hills plans to offer staff time and assistance in support of the project. For information on careers with Dana, visit https://www.dana.com/careers/.
Today’s announcement continues the growth of Dana Incorporated in Michigan. In February, the MSF board approved a $1.5 million MBDP grant to support Dana’s new electric vehicle technology center in Novi, a project that is expected to generate a total capital investment of $9 million and create 150 high-wage jobs.
Neogen Corporation, founded in Lansing in 1982, is consolidating existing operations and creating a state-of-the-art manufacturing and R&D facility. Neogen develops and markets products dedicated to food and animal safety, employing nearly 1,800 people worldwide with more than 600 in Lansing.
The Neogen Expansion Brownfield Redevelopment Project will include the construction of a new three-story manufacturing and research building on a vacant a parcel of land in downtown Lansing and is expected to generate a total capital investment of $71.5 million and create 77 new jobs as well as retain 350 jobs. The project is supported by a $324,000 Michigan Business Development Program performance-based grant. Michigan was chosen for the project over a competing site in Kentucky.
The City of Lansing Brownfield Redevelopment Authority today received MSF approval of $1,576,751 in state tax capture for the reimbursement of eligible brownfield activities at the site. Neogen Properties IX is the single purpose development entity created by Neogen to undertake the project.
The city of Lansing is supporting the project through approval of the local tax capture valued at $3,267,339, and also plans to provide staff or economic assistance in support of the project. The city of Lansing is certified with MEDC’s Redevelopment Ready Communities program. Individuals interested in careers with Neogen should visit https://www.neogen.com/careers/.
MSFalso approved $5 million in funds from the Michigan Business Development Program to be transferred to the Michigan Build Ready Sites Program. The program is designed to assist with the development and/or enhancement of sites to make the state investment-ready and competitive for business attraction and expansion projects.
The effort provides financial or technical support to fund activities that will increase Michigan’s inventory of development-ready industrial sites. Activities could include site development studies or site material development, site implementation or land assembly activities, and more.
The program supports MEDC’s strategic focus of continuing to hone Michigan’s competitive advantage and be prepared to attract companies in key focus industries to locate and grow in Michigan. As MEDC courts companies to grow or locate in Michigan, there is a need for the development and/or enhancement of industrial sites to make them build-ready and competitive for site selection projects.
“Michigan is aggressively pursuing site readiness in a range of locations and sizes, including strategic mega-sites considered to be 1,000+ acres, to grow an inventory of market responsive sites to position Michigan as the state of choice of site selectors,” says Terri Fitzpatrick, executive vice president, chief real estate and global attraction officer at the MEDC. “MEDC is experiencing a never-before-seen level of RFPs and inquiries for sites here in the state. This funding will advance sites to ready them for investment in Michigan.”
The Michigan Strategic Fund also approved the following:
- Bedrock Transformational Brownfield Plan amendments – MSF approval of modifications to Bedrock’s original Transformational Brownfield Plan, approved in May 2018, to reflect updated details to project, new completion dates and changes to the TBP law. The amendments do not increase company’s incentive value or change their investment amount.
- Design for Michigan Manufacturing Program at the Centrepolis Accelerator at Lawrence Technological University in Southfield — Approval of $1.5 million to support the economic development program at LTU designed to develop and launch more products made in Michigan.
- Funding allocation for the Michigan Translational Research and Commercialization Advanced Materials Hub – MSF approval of additional funding for the Michigan Technological University MTRAC Advanced Materials Innovation Hub. The hub focuses on commercializing technologies related to advanced applied material, systems, technologies or devices.
- Funding tourism and business marketing efforts – MSF approval on the allocation of FY23 appropriated funding to MEDC’s tourism and business marketing initiatives to promote Michigan as a world-class business and travel destination. The MSF Board approved $15 million in appropriated American Rescue Plan Act federal funds to the existing contract with MMGY Global for travel marketing and advertising initiatives that promote Michigan as a premier four-season destination. The MSF Board also approved $5,782,000 to the existing contract with Lambert/9th Wonder for business marketing and advertising activities that attract, retain and grow businesses that deliver economic opportunity to Michigan.
Michigan Economic Development Corp. is the state’s marketing arm and lead advocate for business development, job awareness, and community development with the focus on growing Michigan’s economy.
For more information on the MEDC and its initiatives, visit MichiganBusiness.org.