Hudson, Michigan-based K&S Wire Product, which will focus on manufacturing wire products and eventually plastic shopping carts, plans to invest $1.2 million to purchase shopping cart manufacturing equipment and hire 157 workers.
K&S was one of numerous projects that landed approval for state tax credits by the Michigan Economic Growth Authority. Other expansion projects approved for incentive packages include:
• Global Tooling Systems - The supplier of tooling systems and services for the commercial and military aerospace industries plans to invest $17.2 million to relocate operations to Macomb Township. The project is expected to create 400 new jobs, including 184 directly by the company.
• McLaren Performance Technologies – The automotive engineering firm plans to invest $8.9 million to expand operations in Livonia and support its new power-transfer unit business to capitalize on fuel efficiency improvements in the automotive industry. The project is expected to create 74 new jobs, including 34 directly by the company. The board approved a state tax credit valued at $1.1 million over 10 years to help convince the company to expand in Michigan over a competing site in Ontario.
• Patrick Energy Services – The provider of engineering, program and construction management services for high-voltage electric infrastructure and smart grid technologies plans to invest $2.2 million to expand operations in Novi. The project is expected to create 185 new jobs, including 90 directly by the company. The board approved a state tax credit valued at $1.5 million to help convince the company to expand in Michigan.
• RIIS LLC – The software and applications development firm plans to expand its headquarters in Oakland County at a site to be determined by the company. The project is expected to generate $946,000 in new investment and create 95 new jobs, including 40 directly by the company. The board approved a state tax credit valued at $1.1 million over seven years to help convince the company to expand in Michigan over competing sites in North Carolina and Ohio.
• Michigan Brewing Company – The Webberville-based brewer of craft beers is competing to secure a new addition to its product line: a craft beer for musician Kid Rock. The company plans to invest $7 million in the project, which is expected to create 394 new Michigan jobs, including 161 directly by the company.
• Altus Brands LLC – The veteran-owned small business specializing in manufacturing products for hunters, shooters and sportsmen, including Pro-Ears, a leader in hearing-protection for shooters; Benchmaster, a leader in shooting rests; and Crossfire slings for guns and bows, will invest $710,000 to relocate and expand of existing operations in Garfield Charter Township. The project is expected to create 57 new jobs, including 25 directly by the company.
• General Motors Corporation – Pending final approval by the company, GM (NYSE: GM) is considering a facility in Southeast Michigan to produce battery modules and assemble packs to provide lithium ion batteries for the Chevrolet Volt. The project would involve an investment of approximately $43 million and is expected to create 571 new Michigan jobs, including 140 directly by the company. Based on the MEDC's recommendation, the MEGA board today approved a state tax credit valued at $6.8 million to encourage GM to locate the project in Michigan over other North American locations.
Governor Jennifer Granholm also announced the first advanced battery development incentives as a result of the recently enacted Michigan Advanced Battery Credits initiative.
The Michigan Economic Growth Authority today approved advanced battery credit incentives to Ford and GM for pack engineering, integration and assembly, vehicle engineering and advanced battery technologies. The law provides up to $335 million in refundable tax credits to encourage companies to develop and manufacture advanced batteries and commercialize advanced battery technologies in Michigan. The initiative – passed with overwhelming bipartisan support and signed by Granholm into law last month - is the first of its kind in the United States.
We Welcome Your Comments at editor@mfrtech.com
Receive our News by Email, Subscribe at http://www.mfrtech.com/subscribe.asp or Visit Us Online or Bookmark at http://www.mfrtech.com
Permission to Reproduce
Unless otherwise stated, the copyright and similar rights to all material published on this website are owned by The Manufacturers Group Inc. DBA Manufacturing & Technology eJournal. Reproduction of any article in print, electronic or any other form must acknowledge Manufacturing & Technology eJournal as the Source and include a link http://www.mfrtech.com
 |
All comment postings require your name and email address for user verification only. Your email address will not be used or distributed for any other purpose.
No advertising is permitted and will result in the post being deleted and/or banning. Please click "REPORT" to report any inappropriate posts. blog comments powered by Disqus
 |
