MI: Three Business Expansions Create 91 Jobs, $115M Private Investment
7 Aug, 2018
Three companies are expanding around Michigan with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced. Expansions by Arconic, Michigan Metal Coatings and Diversified Engineering are expected to generate $115.2 million in private investment and create 91 jobs.
“The decision by these companies to expand in Michigan rather than in other states means good jobs for our residents and demonstrates the strength of our state’s manufacturing talent pool,” said Jeff Mason, CEO, Michigan Economic Development Corporation, the state’s chief marketing and business attraction arm that administers programs and performs due diligence on behalf of the MSF.
“Collaboration with our local partners is key to attracting these kinds of investments and further building the economy around the state,” Mason said.
Arconic is a global technology, engineering and advanced manufacturing leader with a presence in Whitehall since 1951. The company is a market leader in investment casting super-alloy airfoils for aero engines and industrial gas turbines. Arconic is expanding its operations in the city of Whitehall to meet growing demand from aerospace engine customers. The project is expected to generate a total capital investment of approximately $100 million and create 45 new jobs, resulting in a $495,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in multiple locations. The city of Whitehall is supporting the project with a 50-percent tax abatement. For information on careers with Arconic, visit here .
Michigan Metal Coatings , headquartered in Port Huron, is an ISO 9001:2015-certified company with an A2LA accredited laboratory, and is a leader in the application of chromium free, corrosion resistant coating systems. The company provides metal finishing services to large automotive OEMS as well as servicing non-automotive industries.
Michigan Metal needs to expand in order to add capacity, and will be purchasing an additional 66,375-square-foot facility near its current operations in Port Huron. The project is expected to generate a total capital investment of $11 million and create 41 jobs, resulting in a $200,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Indiana, Kentucky and Ohio for the project. The Economic Development Alliance of St. Clair County plans to offer staff time in support of the project.
“The MEDC and St. Clair EDA have been important partners in ensuring the Michigan Metal Coatings’ expansion in Port Huron is realized. We look forward to continuing this partnership and continued growth in Port Huron,” said Jay Dusenberry, strategic planning manager for Michigan Metal Coatings.
Diversified Engineering & Plastics, LLC , located the city of Jackson, is an ISO14001 and IAO/TS16949 certified design and thermoplastic injection molding company primarily serving Tier 2 suppliers to the automotive and heavy truck industries. The company is seeking to diversify into new markets and plans to add new equipment as well as make improvements to its current facility. The company plans to hire five new employees within the next six months, and another 10 in the next two years. MSF is providing $1.4 million in collateral support that will serve as gap financing on the company’s loan from Huntington Bank. Individuals interested in careers with DEP should visit http://deplastics.com/index.php/thermoplastics-molding-company/careers/all-open-jobs/ .
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org . For Pure Michigan® tourism information, your trip begins at www.michigan.org . Join the conversation on: Facebook, Instagram, LinkedIn and Twitter.