State approves grants for 4,590 new jobs, $1B in business expansions
LANSING — State officials say they have approved incentives for 14 business expansions that could generate more than $1 billion in investments and about 4,600 jobs in Michigan — including hundreds in West Michigan.
Gov. Rick Snyder announced Wednesday the Michigan Strategic Fund approved the performance-based grants for projects across the Lower Peninsula.
Highlights include expansions by Japanese auto parts supplier Denso Corp. It plans to invest about $150 million in its operations in Battle Creek and the Detroit suburb of Southfield to create about 440 jobs total.
The state says Benton Harbor-based Whirlpool Corp. plans to relocate refrigeration research and development operations to a former Whirlpool plant in the city from Evansville, Ind., and create 180 jobs.
Perrigo plans to add infrastructure and equipment to its site in Allegan and a new facility and new equipment in Holland Charter Township, investing an additional $242 million and creating 650 jobs to support a tablet expansion for its over-the-counter business, according to the Michigan Economic Development Corporation.
As a result of the Perrigo expansion, the Michigan Strategic Fund approved an increase in the maximum allowance for qualified new jobs on the company’s MEGA tax credit from 400 to 1,050. Holland Charter Township and the city of Allegan have offered property tax abatements in support of the project.
Cosma International, an operating unit of Magna International, plans to open an automotive casting components and systems facility in Battle Creek, subject to completing all necessary commercial arrangements and receiving necessary approvals, according to MEDC.
Once established, the facility will be known as Cosma Casting Michigan and is expected to create up to 572 new jobs based on investment of up to $162 million.
As a result, the company has been awarded a $1.6 million Michigan Business Development Program performance-based grant.
Michigan was chosen over competing sites for the Cosma facility. The city of Battle Creek has offered support to the project in the form of property tax abatements.
Fair Oaks Farms Brands plans to manufacture nutritionally enhanced liquid milk products at a newly constructed facility in Coopersville, according to MEDC. The applicant expects to invest $127 million and create 133 jobs, resulting in a $900,000 Michigan Business Development Program performance-based grant.
Michigan was chosen for the Fair Oaks facility over competing sites in New York, Pennsylvania and Indiana. The city of Coopersville has offered support in the form of 12-year property tax abatements.
Snyder says he's excited by the "strong foreign investment" and significant boosts to the recovering automotive industry.