Two Michigan Companies Plan to Invest $22M in Detroit

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LANSING — Futuramic Tool & Engineering Co. and Urban Science Applications Inc. will be expanding and adding jobs in Detroit with support from the Michigan Strategic Fund, expected to generate up to $22.1 million in new capital investment and bring nearly 230 new jobs.

“The commitment of these companies to grow and create good-paying jobs in Detroit further demonstrates to the world that Detroit is open for business,” said Michael A. Finney, president and CEO of Michigan Economic Development Co. “These companies deserve our congratulations on their expansions and our appreciation for their continued commitment to Detroit and to Michigan.”

Futuramic Tool & Engineering Co. outgrown its current Warren and Southfield campuses and is looking to expand at the former Tower Automotive facility in Detroit. The project, with a total capital investment of $20 million, is expected to create nearly 100 new jobs. As a result, the project has been awarded a $600,000 Michigan Business Development Program performance-based grant. Detroit is offering support to the project in the form of a property tax abatement.

Urban Science Applications Inc., plans to expand its software consulting and engineering and services operations in Detroit and an additional location in Michigan to be determined. This project will create 126 jobs and generate a total capital investment of $2.1 million. As a result, the company has been awarded a $700,000 Michigan Business Development Program performance-based grant and the City of Detroit has offered property tax abatement valued at $97,000.

For more information, visit michiganbusiness.org

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