LANSING – Projects expected to generate more than $95.5 million in total investment and create 918 jobs in Michigan gained approval from the Michigan Strategic Fund, the Michigan Economic Development Corp. announced.
- RPM Freight Systems LLCreceived a $3.75 million Michigan Business Development Program performance-based grant to support a $4.9 million expansion of its headquarters in Royal Oak, a project that is expected to create 500 new jobs. RPM, founded in 2012, is a non-asset-based logistics provider with 2018 revenue of $172 million. RPM provides transportation services associated with freight, finished vehicle, and bulk commodities across North America. Michigan was chosen over a competing site in Tennessee. The city of Royal Oak will be reserving parking spaces for RPM to purchase. Individuals interested in a career with RPM should visit https://www.loadrpm.com/work.
- Inteva Products LLC received a $3.34 million Michigan Business Development Program performance-based grant to support a $13.8 million project to create a new office, tech center, production plant and warehousing operation at an as-yet undetermined site in Oakland or Wayne counties for its subsidiary, US Roof LLC, established in 2018 to run Inteva’s auto roof business. The project is expected to create 334 jobs. Inteva is based in Troy and has a manufacturing plant in Adrian. Michigan was chosen over a competing site in Ohio. Individuals interested in careers at Inteva should visit https://www.intevaproducts.com/careers.htm.
- Kzoo Hotel Partners LLC received a $8.45 million Michigan Community Revitalization Program performance-based loan participation to support a $44 million redevelopment of the Rose Street Market building and adjacent parking lot in downtown Kalamazoo. The project will include the renovation of the six-story building and the construction of two new buildings that when completed, will consist of a 113-room boutique hotel, a 107-room extended stay facility, and approximately 15,000 square feet of office and commercial space. The project is expected to create 75 jobs. The Kalamazoo Brownfield Redevelopment Authority also received MSF approval of $3,413,041 in local and school tax capture for the alleviation of brownfield conditions at the site.
- Jackson Downtown Partners LLC received a $3 million Michigan Community Revitalization Program performance-based loan participation to support the $13.5 million redevelopment of a vacant former industrial site in downtown Jackson into a mixed-use building. The project will include new construction of a four-story, mixed-use building known as “The 200.” When completed, the project will consist of 86 market-rate residential apartments on the upper three stories and a portion of the first floor, and commercial rental space on the first floor. The project is located in the downtown Jackson Smart Energy District and is designed and will be built using strategies aimed at improving performance in energy savings, water efficiency, carbon dioxide emissions reduction and more. The project is expected to create nine full-time-equivalent jobs. MSF also approved $757,679 in local and school tax capture for the Jackson Brownfield Redevelopment Authority to alleviate brownfield conditions at the site.
- The Grand Rapids Brownfield Redevelopment Authority received MSF approval of $2,021,784 in local and school tax capture to support the Michigan Meadows project in the Michigan Oaks neighborhood near downtown Grand Rapids. The project will demolish a vacant church and maintenance garage to construct 23 two-and four-bedroom townhome buildings. When completed, the project will consist of 88 units of residential housing, as well as a new public road, streetscaping, private drives, and extensive sitework, while maintaining more than 10 acres of natural features and greenspace. The project is expected to generate a total capital investment of $19.1 million and will serve to increase density and bring new residents to a currently vacant site. The tax capture will be used to alleviate brownfield conditions at the property.
In addition, the Michigan Strategic Fund approved three projects that are aimed at supporting Michigan’s high-tech startups around Michigan:
- Fiscal year 2019 Business Incubator Program awards – Five organizations received a total of $600,000 to provide business incubator services to early-stage technology companies and institutions for commercializing competitive-edge technologies:
- Ann Arbor Spark ($150,000)
- The Enterprise Group of Jackson Inc. ($150,000)
- Automation Alley ($100,000)
- TechTown Detroit ($100,000)
- The City of Grand Rapids SmartZone ($100,000)
- MSF also approved a grant amendment for UM Economic Growth Institute to continue to administer the Entrepreneurial Service Provider First Customer Program. Since 2012, the MSF board has funded the statewide program that assists startups and small companies diversifying into new industries to identify potential first customers. In October 2015, MSF approved funding of $1 million to the institute for three years with the option to extend the term for an additional two one-year terms. Today’s amendment extends the grant for an additional year and with an increase of $335,000.
- Wayne State University received MSF approval as an Advanced Computing Hub with the Michigan Translational Research and Commercialization statewide program. MSF also approved an allocation of $250,000 from the 21st Century Jobs Fund 2019 MTRAC program budget as funding for one year for this innovation hub.
For more on the MEDC and its initiatives, visit www.mcihiganbusiness.org.