3 Companies Invest $20M, Add Jobs in Michigan

1261

LANSING — The Michigan Economic Development Corp. today announced Michigan Strategic Fund approval of three business expansion projects that are expected to generate nearly $20 million in investments and add nearlhy 400 new jobs in Michigan.

“Today’s investments offer further evidence of Michigan’s improving economy and the success of our strategy to help companies grow and add jobs here.” said MEDC President and CEO Michael A. Finney. “These projects all mean more jobs and greater economic opportunities for people across Michigan.”

Eissmann Automotive Port Huron LLC is a newly formed entity under Eissmann North America, a subsidiary of Eissmann Automotive Deutschland GmbH. Headquartered in Bad Urach, Germany, Eissmann North America manufactures automotive interior components such as instrument panels, door panels, interior trim, shifter modules and console trim products. Eissmann North America currently has production facilities in Pell City, Ala. and Mexico as well as a technical office in Troy with 21 employees.

The company wishes to expand its U.S. activities by establishing a North American headquarters and new manufacturing facility in Port Huron, investing up to $13.55 million and creating up to 233 jobs. As a result, the company has been awarded an $850,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Ohio and Indiana. The City of Port Huron has offered support to the project in the form of property tax abatement.The Michigan Strategic Fund also approved incentives for the following projects:

NEMO Capital Partners LLC is a privately-held investment company with a portfolio of health care holdings centered on technological solutions for physicians and their technology distributors. The company and its subsidiaries plan to consolidate its Ohio and New Jersey operations to a new headquarters in Southfield. The company will invest nearly $2.2 million and create 125 jobs, resulting in a $500,000 Michigan Business Development Program performance-based grant. The project will be at 2000 Town Center, Suite 170 and 28819 Franklin Rd. in Southfield. The city of Southfield has provided financial assistance with an EPA Assessment grant and Southfield City Council will consider offering support to the project in the form of a PA 328 personal property tax abatement for three years.

Walbro Engine Management LLC, established in 1950 in Fenton and relocated to Cass City in 1954, is a manufacturer of carburetors, ignition systems, fuel storage systems, and other components for power equipment, marine, and recreational applications. The company is expanding its current facility in Cass City, investing nearly $4.2 million and creating 28 new jobs. As a result, the company has been awarded a $165,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Mexico. Cass City has offered support to the project in the form of a 12-year property tax abatement valued at $354,753.

Facebook Comments