LANSING — The Michigan Economic Development Corp. announced that three companies were approved for incentives by the Michigan Strategic Fund to support their expansions in the state.
The state support will allow for two business expansions and a community improvement project that are expected to generate nearly $4.8 million in investments and create 97 new jobs.
The projects included:
* A $250,000 Michigan Business Development Program grant to Bmax USA LLC, a metal processor working in the energy, automotive, aerospace, and packaging industries. Bmax is owned by the French technology company I-Pulse Inc. The company plans to establish its first North American plant in Pontiac, investing more than $4.3 million and creating 26 jobs. Michigan was chosen over a competing site in Ohio. The city of Pontiac has offered support to the project in the form of hiring a relocation service consultant.
* A $250,000 Michigan Business Development Program grant to Grand Rapids-based Terryberry Co. LLC, a fourth-generation family owned business specializing in employee recognition programs, employee appreciation products, worker recognition awards, and retirement gifts. The company has reached capacity at its current location and plans to renovate and expand its existing plant, investing more than $2.6 million and creating 53 jobs. The funds will be used to offset the costs of training new workers. Grand Rapids has offered support to the project in the form of a property tax abatement. Individuals interested in careers with Terryberry should visit http://www.terryberry.com/about-us/career-opportunities.aspx.
* Also, the city of Marshall was awarded $381,071 in Community Development Block Grant funds for the Cronin Building project, which will include correcting structural issues and eliminating blighted conditions on both the interior and exterior of a 1870s historic structure. The completed project will include seven apartment units, two extended-stay suites and a tavern with a patio and banquet area. The funds will be used to make structural improvements and remove lead and asbestos. The Michigan State Housing Development Authority will contribute $295,769 in CDBG4.8 funds for the residential component. The project will generate a total capital investment of more than $1.6 million and create 18 jobs. The city of Marshall will contribute $150,000 for infrastructure improvements including parking and sidewalk improvements.
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 nearly 93,000 jobs are currently available in a variety of industries.