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Michigan Provides Incentives to Drive $55 Million in Private Investment

Monday, April 2, 2018   (0 Comments)
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Four companies are planning expansions in Michigan with support from the Michigan Strategic Fund. The Michigan Economic Development Corporation reported the projects are expected to generate $55 million in private investment and create 338 jobs in Monroe, Auburn Hills, Grand Rapids, Farmington Hills along with Bridgeport, Delhi and Lima townships.

“Today’s actions offer further evidence of our commitment to help companies grow and generate new job opportunities for Michigan residents,” said Jeff Mason, CEO of the MEDC. “These projects represent a variety of industries, and demonstrate the work we are doing to diversify our state’s economy, he added.

Companies receiving economic incentives include:

Echo Engineering and Productions Supplies, Inc., founded in 1966 in Indianapolis, is a full-service manufacturer of custom plastic components. The company is experiencing significant growth due to increasing development in the aerospace, automotive, heavy machinery, lighting and electronic industries. Echo recently acquired two move-in-ready facilities in Monroe County, one in the city of Monroe and the other in Frenchtown Township. 

Echo plans to invest $2.4 million and create 60 jobs at the facilities, resulting in a $210,000 Michigan Business Development Program performance-based grant. In addition, the Monroe County Business Development Corporation has offered to assist the company with advertising in support of the project.

Esys Automation, established in 1999, is a full-service provider of turnkey automation systems with two locations in the city of Auburn Hills and one in Greenville, South Carolina. The company has seen increased demand for its products and has experienced significant growth over the past three years. Esys plans to build a world-class headquarters facility in the City of Auburn Hills that will combine its existing three facilities under one roof containing engineering, research and development, manufacturing and management. 

The project is expected to generate a total capital investment of $15.8 million and create 104 jobs, resulting in an $832,000 Michigan Business Development Program performance-based grant. In addition, the City of Auburn Hills has offered a four-year property tax abatement in support of the project.

“The Esys Automation expansion is a clear indication that the company is enjoying great success within the Auburn Hills business community. We are always flattered when a business chooses to locate in Auburn Hills and are equally flattered when they make the decision to grow here and make an even larger investment,” said Mayor Kevin McDaniel. “For that we are most appreciative.”

Jedco Inc., based in Grand Rapids, is a manufacturer of highly engineered gas turbine engines and other components to the aerospace industry. The company is experiencing significant growth and needs to increase production by adding machinery and equipment as well as invest, recruit and train new workers. 

Jedco plans to expand in Grand Rapids and another location in Kent County, investing nearly $9.3 million and create 39 highly-skilled jobs, resulting in a $215,000 Michigan Business Development Program performance-based grant. The Right Place is offering assistance with staff time and resources to support the project. 

“We are excited about this new growth chapter in Jedco’s history,” said Jedco, Inc. CEO & Chairman of the Board Dan Szymanski. “The Right Place, the MEDC, and the City of Grand Rapids provided the support and business case we needed to continue growing here in the city.”

Orchid Orthopedic Solutions, headquartered in Delhi Township, has a long Michigan history dating back to one of its subsidiaries, Unique Instruments, Inc, founded in 1977. As a contract manufacturer of medical devices and implants, the Orchid companies produce an array of joint replacements, surgical instruments, and other implant products.

Orchid is looking to grow operations locally and worldwide while reducing operating costs, increasing efficiencies, and reducing redundancies. 

The company plans to expand production at multiple locations in Michigan: Bridgeport Township, Delhi Township, Lima Township, and Farmington Hills. The project is expected to generate a total capital investment of $27.4 million and create 135 jobs, resulting in a $472,500 Michigan Business Development Program performance-based grant. 

Due to the bulk of the investment being made in Bridgeport Township and Delhi Township, the communities have offered 50-percent property tax abatements in support of the project.

“We’ve had the pleasure of working with Orchid Orthopedic Solutions and Bridgeport Charter Township on five expansion projects over the past decade resulting in hundreds of new jobs and millions in new investment,” said Saginaw Future President JoAnn Crary. “Support from the Michigan Economic Development Corporation and the Michigan Strategic Fund has been key to encouraging Orchid’s continued growth in medical device manufacturing.”

“Orchid is an amazing company that is important to Delhi Township, said Delhi Charter Township Director of Community Development Tracy LC Miller. “We are always excited and eager to work with them as they continue to grow and add new employees in our community.”

 

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