LANSING — The Michigan Economic Development Corp. announced approval of assistance to economic development and community revitalization projects that in total will generate nearly $190 million in new capital investment and create 419 new jobs in Michigan.
The MSF-approved projects include an expansion of Toyota’s engineering center in York Township, three new multifamily housing developments in Detroit, and two brownfield work plans for business expansions in Detroit and Redford Charter Township.
Toyota Motor Engineering and Manufacturing North America Inc. is engaged in engineering design, vehicle evaluation, materials research, prototype building, powertrain tuning, safety and crashworthiness, regulatory affairs and advanced research for Toyota and Lexus vehicles manufactured or sold in North America. The company has research and development centers in Ann Arbor, York Township, Plymouth and Livonia.
In its latest move, Toyota plans to relocate its direct procurement operations from Erlanger, Ky. to York township as part of an increased investment in engineering capabilities. The expansion will require the company to construct a new building in York Township, investing up to $32.5 million and creating 250 jobs. As a result, Toyota has been awarded a $4 million Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in multiple states. York Charter Township is considering support of the project in the form of 12-year property tax abatement valued at $4.6 million. York Charter Township provided tax incentives to Toyota for its past expansion in the community.
Individuals interested in career opportunities with Toyota Motor Engineering and Manufacturing should visit http://www.toyota.com/usa/careers/index.html.
In Shelby Township, TransForm Automotive LLC is expanding, a project expected to generate $42 million in new private investment and add 77 new jobs. Established in 1997, TransForm is a Chicago-based division of Amsted Industries with two locations in Sterling Heights. It manufactures precision transmission components with advanced proprietary stamping, metal forming, flowforming, machining, laser welding and assembly processes.
The company has received new business from several automakers to manufacture new transmission components and assemblies with plans to lease a new plant in Shelby Township. The project investment is nearly $42 million and will create 77 new jobs, resulting in a $550,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Canada. Shelby Township has offered support to the project in the form of a 12-year property tax abatement valued at $1 million.
To learn more about TransForm Automotive, please visit www.transformauto.com. Individuals interested in career opportunities with TransForm Automotive should submit a resume to email@example.com or fax a resume to 586-826-3656.
The state also approved a brownfield work plan for Du Charme Place LLC. The Detroit Brownfield Redevelopment Authority will use local and school tax capture of $4,759,351 for the redevelopment of property located on East Lafayette Street in the City of Detroit. The finished project will consist of a new market-rate residential development with 185 apartments and a fitness center. The project is expected to generate nearly $38.5 million in total capital investment and create six full-time jobs.
In addition, the MSF approved $5.7 million in Michigan Community Revitalization Program performance-based equity support for the project.
Also, the Detroit Brownfield Redevelopment Authority received approval of local and school tax capture in the amount of $6,495,862 for the redevelopment of property located at Franklin and Orleans streets in Detroit. The completed project, Orleans Landing, will consist of 20 new buildings with retail/commercial space and 278 units of multifamily housing. The project is expected to generate a total capital investment of $61 million and create 39 full-time jobs.
The MSF also approved $7.61 million in Michigan Community Revitalization Program performance-based equity support for the project and re-authorized a Brownfield Michigan Business Tax Credit in the amount of $6,983,874.
Also, the Detroit Brownfield Redevelopment Authority will use local and school tax capture in the amount of $949,562 for the redevelopment of property located on McGraw Street in Detroit. The project will include the construction of a warehouse and office building for use by Comprehensive Logistics Co, a service provider to automotive OEMs, Tier 1 suppliers and industrial customers. The previously announced project will generate approximately $19.1 million in total capital investment and create 240 full-time jobs. In October 2013, Comprehensive Logistics received an $800,000 Michigan Business Development Program performance-based grant for this project.
And the Detroit Brownfield Redevelopment Authority received approval of local and school tax capture in the amount of $762,960 for the redevelopment of property located at West Alexandrine and Second Avenue in Detroit. The property is owned by Green Garage LLC, a developer that focuses on sustainable building renovation practices and community education regarding green infrastructure. The site includes the historic El Moore apartments, which will be renovated into 23 residential units. The surrounding property will be built out with greenhouses, urban agriculture infrastructure, a community green space and a four-season retail building for the sale of locally produced goods and food products. The project is expected to generate a total capital investment of $6.9 million and create two full-time jobs.
Also, the Redford Charter Township Brownfield Redevelopment Authority will use local and school tax capture in the amount of $719,528 for the redevelopment of property on Telegraph Road in Redford Charter Township. The project consists of the renovation of the George Matick Chevrolet dealership as well as the construction of a new car wash and fuel service center. The project is expected to generate a total capital investment of $9 million and create 55 jobs.
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 81,000 jobs are currently available in a variety of industries.