LANSING – Three business expansions and two community revitalization projects that will generate a total of $17.7 million in private investment and create 173 jobs have received Michigan Strategic Fund support, the Michigan Economic Development Corp. announced.
Rassini Brakes LLC received a $300,000 Michigan Business Development Program performance-based grant to support an $8.5 million, 50,000-square-foot expansion of its plant in Genesee County’s Mt. Morris Township. Rassini was established in Flint in 2013 and currently machines brake components for the automotive industry. The addition will support an increase in business and will house additional manufacturing space and some warehouse/distribution space. The project is expected to create 50 jobs. Mt. Morris Township has offered a 50-percent property tax abatement in support of the project. For information on careers with Rassini Brakes, contact the location or submit resumes through Michigan Talent Connect.
Stone Fox Staffing LLC, a subsidiary of Stone Fox Ventures, received a $400,000 Michigan Business Development Program performance-based grant to support a $3.76 million project to relocate some of the operations of a recent acquisition, Even Cut Abrasive Co. of Cleveland, Ohio, to Wyoming. The project is expected to create 52 new jobs in Michigan. Stone Fox Venturesacquires, structures, manages and grows middle-market manufacturing, distribution, and services companies with industrial customers. Even Cut produces coated and non-woven specialty abrasive products for industrial use. The Right Place, the Grand Rapids area’s economic development agency, has offered staff time and resources to assist with finding candidates for the new positions.
Wellmei US Inc. received a $355,000 Michigan Business Development Program performance-based grant to support a $1.9 million project to establish its first North American manufacturing plant in Troy that will include space for mold production and later include plastic injection molding to serve the automotive and medical industries. The project is expected to create 71 jobs over five years. Wellmei was established in China in 1988, and provides molds and parts for the automotive, home appliance, packaging, medical, and office equipment industries. The company has five factories in Asia with more than 4,800 employees worldwide. State officials said Michigan was chosen over a competing site in Ohio. The city of Troy has offered marketing services and talent assistance in support of the project. For information on careers with Wellmei, visit wellmei.com.
The Grand Rapids Brownfield Redevelopment Authority received MSF approval of $142,336 in local and school tax capture to support the 111 Halo LLC community development project that will redevelop an existing single-story former church building and construct a new two-story building adjacent to the church in the Crescent Shores neighborhood of Grand Rapids. The completed project will include nine one- and two-bedroom apartments. The project will also include public improvements including landscaping and streetscaping. The project is expected to generate a total capital investment of $2.8 million. The tax capture will be used to alleviate brownfield conditions at the site and prepare it for redevelopment.
The city of Owosso has been awarded $355,472 in CDBG funds for the Owosso Downtown Facades Project. The project includes the historic renovation of three buildings on Washington and Main Streets in downtown Owosso. Restoration will include historic feature renovations, brick repair, new awnings, new signage and lighting, and more. The city of Owosso is contributing $19,800 toward the project, and the local business owners are contributing a total of $330,472 in private funds.
For more about the MEDC and its initiatives, visit www.MichiganBusiness.org