LANSING — Middleville Tool & Die Co. is expanding in Barry County’s Yankee Springs Township with support from the Michigan Strategic Fund, the Michigan Economic Development Corp. announced.
The expansion is expected to generate nearly $6.3 million in new private investment and add up to 35 new jobs.
Middleville Tool & Die Co. is a family-owned business established in 1966 that manufactures stamped assemblies and stamped tubular products for the appliance, office furniture and automotive industries.
The company plans to expand its current plant in Yankee Springs Township, spending up to $6.3 million and creating 35 jobs. As a result, the company has been awarded a $350,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Tennessee. Yankee Springs Township has offered a property tax abatement to support to the project as well.
For information on careers with Middleville Tool & Die, visit www.mtd-inc.com/jobs.htm.
In July Middleville and its real estate and building holding company Middleton Enterprises LLC received MSF approval of a Bond Authorizing Resolution for private activity bond financing in the amount of $6.3 million for the expansion and related investments.
The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
The MSF considers a number of factors in making these awards, including out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.
For more on the MEDC and its initiatives, visit michiganbusiness.org. For Michigan travel news, updates and information, visit michigan.org. Michigan residents interested in seeking employment with any of Michigan’s growing companies should check mitalent.org, where more than 82,000 jobs are currently available in a variety of industries.