LANSING — Four companies have been approved for incentives to support their expansions in the state, by the Michigan Strategic Fund. The state support will allow for two business expansions and two community improvement projects, expected to generate $70.2 million in investments and nearly 270 new jobs.
“Today’s MSF approvals offer further evidence of our commitment to revitalizing Michigan’s communities and helping growing companies generate new job opportunities,” says Steve Arwood, MEDC chief executive officer. “These investments demonstrate Michigan’s improving economy and the success of our strategy to help companies grow and add jobs here.”
The companies include Agape Plastics Inc., Magna Seating of America Inc., and 678 Selden LLC, with the addition of the Bridgeport Commons – Phase 1 project.
Agape Plastics in Ottawa County specializes in custom injection molding and assembly supplying the automotive, furniture, and equipment industries. The company plans to construct a 57,600 square foot addition to its current manufacturing facility in Tallmadge Charter Township, investing $14 million and creating nearly 55 jobs. The project has been awarded a $300,000 Michigan Business Development Program performance-based grant.
Magna Seating of America is looking to house its headquarters, engineering, research and development, and sales and marketing teams into a single facility. The company plans to construct a new 180,000 square foot space. The project will generate more than $48 million and create about 165 new jobs, resulting in a $984,000 Michigan Based Development Program performance-based grant.
The Mackinac County Brownfield Redevelopment Authority was awarded $464,250 to redevelop 5.4 acres of property in St. Ignance. The project, known as Bridgeport Commons – Phase 1, will demolish the former county hospital building at the site. There will be a $900,000 investment for Phase 1 and $3.5 million for Phase 2. It will also create about 45 full-time jobs.
678 Selden LLC plans to convert a vacant building in midtown Detroit into a mixed-use development, with commercial and residential space. The project will invest nearly $3.7 million and create four jobs, resulting in a $670,210 Michigan Community Revitalization Program performance-based grant.