(The Center Square) –Burr Oak, Auburn Hills and Delhi Charter Township will all receive business expansions through the Michigan Strategic Fund, creating 294 new jobs and up to $38.4 million in state business investment.
Visioneering, Inc., Carter Associates, Inc. and Molded Plastics Industries LLC all are expected to expand existing Michigan facilities. The Michigan Strategic Fund loans will be managed by Michigan Economic Development Corp., a public-private partnership with more than 100 corporate partners.
“It is always rewarding to see Michigan-based companies grow and create good-paying jobs here in the state, while supporting projects that help create the vibrant communities that our workforce is able to live, work and play in,” said MEDC Senior Vice President of Regional Prosperity Matt McCauley. “We are proud to work with our local partners on these three projects that will help to drive economic opportunity across Michigan.”
Visioneering, Inc. is an aerospace manufacturing supplier that currently employs 260 Michigan residents in Auburn Hills and Fraser. The company has a history of buying more than 80% of its raw materials from Michigan-based suppliers.
Through an $880,000 loan, the company plans to expand its Auburn Hills facility by an additional 133,664 square feet. Auburn Hills will provide a 50% tax abatement toward the project. The investment is expected to create 238 new jobs and a $25 million return.
“Companies like Visioneering, with their expertise and state of the art innovations are paving the way for the future,” Auburn Hills Mayor Kevin McDaniel said. “As a leader in the aerospace industry, their reinvestment in Auburn Hills will contribute to the city’s strong, diverse, local economy through jobs and investment.”
Carter Associates, Inc., headquartered in Burr Oak, currently employees 18 people at their three green packaging manufacturing facilities. The company creates reusable shipping totes, pallets, produce sleeves and agribusiness electric heating panels.
With the $100,000 loan, Carter wants to consolidate its two Burr Oak facilities into a one renovated 35,000-square-feet manufacturing space. The project is expected to generate $3 million in return on investment as well as 20 new jobs.
“Southwest Michigan First is pleased to celebrate the continued growth of Carter Associates, a forward-thinking manufacturer,” Southwest Michigan First CEO Jonas Peterson said. “This project further diversifies Southwest Michigan’s dynamic supply chain and enables Carter Associates to enhance production and continue to scale right here in our community.”
Molded Plastics Industries, LLC currently employs 51 at its fiberglass and thermoplastic development facilities. With substantial growth in healthcare and electric vehicle development, MPI looks to expand on 13 acres neighboring their preexisting New Delhi Township plant.
With a $125,000 grant, the company is expected to generate a $6.8 million ROI and 36 new jobs.
“The Lansing region, and Michigan, are an electric vehicle manufacturing and supply chain hot spot,” said Bob Trezise, president and CEO of the Lansing Economic Area Partnership. “MPI’s expansion in the region is a vital addition as the Lansing region rapidly builds the future of mobility.”
