LANSING — The Michigan Economic Development Corp. announced Michigan Strategic Fund approval of two business expansions and three community development projects that will generate more than $22 million in total investment and create 147 jobs around the state.
* Wyoming-based Mico Industries Inc. received a $350,000 Michigan Business Development Program grant supporting the consolidation of two locations in nearby Kentwood, a project that will see the investment of nearly $8.2 million and the creation of 81 jobs. The company manufactures metal stampings and welded assemblies to the automotive and furniture industries, and has been awarded a new project that will increase sales by 50 percent and will require additional space and capacity. Michigan was chosen over a competing site in Texas. The city of Kentwood is offering support to the project in the form of property tax abatement. Individuals interested in career opportunities with Mico Industries should visit http://www.micoindustries.com/contact.html.
* Shepherd Caster LLC, which does business as Colson Group USA, received a $350,000 Michigan Business Development Program grant to assist in an expansion of its plant in Berrien County’s St. Joseph Township. The expansion will see the investment of more than $1.5 million and create 50 jobs. Shepherd is a division of Colson Group Holdings, the largest manufacturer and marketer of caster and wheel products in the world. Michigan was chosen over competing domestic and foreign locations. St. Joseph Township has offered support to the project in the form of property tax abatement.
* 1215 Griswold LLC plans to renovate an existing vacant apartment building located at 1215 Griswold St. in the Capitol Park Historic District in Detroit into a mixed-use residential and retail building. The project will include extensive renovations including repairs to the façade that will preserve the historic nature of the structure. The project will generate a total capital investment of more than $10.3 million and create 16 jobs, resulting in a $1 million Michigan Community Revitalization Program performance-based loan. It is anticipated that the city of Detroit will approve a 15-year Neighborhood Enterprise Zone valued at approximately $730,000.
* Harrison was awarded $751,344 in Community Development Block Grant funds to expand its current farmers market into a three- to four-season Community Farm and Market Incubator that will serve as the market’s permanent home. The expansion will include the rehabilitation of two adjacent buildings in downtown Harrison which will allow the market to expand the number of vendors and offer options year-round, including a fully-equipped and licensed community kitchen that will be available to the public. The project will also include converting a vacant lot into parking and seating space for patrons. The CDBG funds will be used for the complete renovation and build-out of the spaces, with improvements including façade renovation, selective demolition, new mechanical and electrical systems, roof repair and more. The city of Harrison will contribute $254,924 toward the project, and the U.S. Department of Agriculture Rural Development will contribute $331,500.
* Menominee has been awarded $870,000 in Community Development Block Grant funds for the historic renovation of the former Oddfellows Hall building for the Lloyd House II redevelopment in downtown Menominee. Upon complete historic renovation, the project will provide 13 market rate residential units and two commercial spaces. The CDBG funds will be used for blight elimination at the building. The project will generate private investment of $1.45 million. The city of Menominee has approved an Obsolete Property Rehabilitation Act tax exemption valued at $387,600 in support of the project.
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 95,000 jobs are currently available in a variety of industries.