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The Michigan Economic Development Corp. announced $2.2 million in incentives for five companies under the Michigan Business Development Program.
The Michigan Economic Development Corp. announced nearly $2.2 million in incentives for five companies that plan to add 387 jobs in Michigan.
The largest incentive of $800,000 will go to Pinnacle Food Group to expand its operations in Imlay City. The Parsippany, N.J.-based company produces, markets and distributes several food brands, including Duncan Hines, Vlasic, Birds Eye and others.
Pinnacle produces Comstock pie fillings and toppings in Fennville and Vlasic pickle products in Imlay City. The company is consolidating its Millsboro, Del. pickle operations to its Imlay City facility. It will invest $14.3 million and add 29 jobs. Imlay City is considering a property tax abatement and Lapeer County is seeking a tax abatement for the company through the I-69 Next Michigan Development Authority.
Four other companies also received incentives:
• Alternative Automotive Technologies LLC plans to invest up to $5.7 million to rehabilitate a vacant brownfield facility where it will relocate and expand operations. The Troy-based automotive contract engineering firm expects to create 176 jobs. It will receive a $500,000 state business inventive along with a 12-year property tax abatement from the city of Troy valued at $161,290.
• Homer-based RSB Transmissions NA will receive $350,000 for a new $14.4 million, 66,000-square-foot manufacturing facility in Calhoun County. The village of Homer has offered a property tax abatement for the project, which should create 100 jobs. The company manufactures automotive and heavy equipment components.
• MERSEN USA Midland will relocate and expand existing operations in Williams Township outside of Midland. The graphite manufacturer plans to spend $21.3 million on the expansion and create 32 jobs, resulting in a $320,000 state business incentive. The township has offered a 12-year tax abatement worth $1.2 million.
• Mayser Polymer USA of Canton Township plans to invest $3.9 million and add 50 jobs as it expands operations to include assembly of anti-pinch sensors for car doors and windows. It will receive a $200,000 Michigan business incentive and Canton Township is offering a three-year property tax abatement valued at $68,000.
The incentives are part of the MEDC’s Michigan Business Development Program that gives grants, loans and other economic assistance to companies that make investments or create jobs in Michigan. The program replaced the Michigan Economic Growth Authority, or MEGA tax credit program that was eliminated along with the Michigan Business Tax.
http://www.mlive.com/business/index.ssf/2012/09/five_companies_receive_22_mill.html