Expansion projects win state approval to create 203 jobs in Michigan
Zoetis expanding in Kalamazoo, Portage
LANSING, Mich. - A global animal health company is expanding in the Kalamazoo area with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
That expansion, along with four other business expansion projects that have also received MSF approval, will generate a total private investment of more than $71.5 million and create 203 jobs in Michigan.
"The successful expansion of these companies is a testament to Michigan's growing economy and our state's talented and abundant workforce," said Steve Arwood, CEO of the 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.
"Zoetis' decision to bolster its production of medicines here rather than in other locations demonstrates that our business climate and our state's world-class talent make Michigan a top destination for biotech companies to locate, expand and grow new jobs."
Zoetis, LLC is a global leader in the discovery, development, manufacture and sales of animal health medicines and vaccines, with a focus on both livestock and companion animals. The company plans to renovate its global manufacturing and supply facilities and add production capacity in the cities of Kalamazoo and Portage, investing $64.5 million and creating up to 45 jobs over three years with the ability of an additional 15 more jobs over years four and five.
As a result, the company has been awarded a $500,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in other locations. Southwest Michigan First has offered staff time and resources in support of the project. For information on careers with Zoetis, visit https://www.zoetis.com/careers/index.aspx.
"Kalamazoo is home to one of the largest and most important manufacturing sites in Zoetis' Global Manufacturing and Supply network," said Matthew Everhart, Vice President, Pharmaceutical and Aseptic Operations, Global Manufacturing and Supply at Zoetis. "Locating manufacturing here gives us continued access to a highly skilled and diverse workforce which is essential to managing a global animal health company. Our people provide our veterinarian and livestock farmer customers with a reliable supply of high-quality medicines for their animals and are an integral part of the community here."
Conti Corporation, based in Sterling Heights, is a multi-trade industrial and commercial contractor offering design, installation and maintenance services of electrical and mechanical systems and equipment. Conti's customers include auto manufacturers, refineries, power plants, educational and health care facilities, casinos, shopping centers, and hotels. The company is expanding its piping fabrication capabilities and plans to open a new pipe fitting manufacturing operation in Bay City, investing nearly $2.4 million and creating 50 jobs. As a result, the company has been awarded a $200,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Kentucky, Ohio and Texas.
The Bay City manager will recommend support for the project in the form of a 12-year property tax abatement valued at $180,000. Individuals interested in careers with Conti should visit http://conticorporation.com/careers/.
RSM US LLP, headquartered in Chicago, is one of the largest public accounting firms in the U.S. The company is a leading provider of audit, tax, and consulting services. The company plans to consolidate its Southfield office into a new location in the city of Detroit, investing $2.2 million and creating 50 jobs. As a result, the company has been awarded a $200,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Illinois and Indiana. The city of Detroit is offering workforce development and local agency coordination in support of the project. Individuals interested in careers with RSM US should visit http://rsmus.com/careers.html.
Also today with the assistance of the MEDC Loan Guaranty Program, mBank provided financing to Prince Valley of southwest Detroit and Great Giant Supermarket of Flint.
*** Prince Valley is a local supermarket store in Detroit's Mexican Town. A full-service grocery store with strong community engagement, Prince Valley specializes in fresh meats and produce, catering services, and bake goods. The owners have renovated the store substantially in the past few years, upgrading freezer and refrigerator spaces along with purchasing bakery, deli and hot food equipment and computer systems. Additional upgrades will be financed through an mBank $1.7 million loan over 10.5 years with the Michigan Strategic Fund offering a guaranty covering up to 49.9 percent of the loan balance ($873,250). The investment is expected to create 25 jobs.
*** Great Giant Supermarket, located in Flint, was purchased in December 2014 by Jeff and Jim Yono. The owners seek a loan to finance the cost of upgrades, including a full-service deli with homemade foods; additional coolers. Plans call for an upscale deli with full cases of freshly cooked foods, homemade deli salads, and fresh meats. mBank will provide $725,000 term loan over seven years with the Michigan Strategic Fund offering a guaranty covering up to 49.9% of the loan balance ($361,775). The investment is expected to create 18 new jobs.
"The MEDC Loan Guaranty Program played a key role in mBank financing the renovation and remodeling of these supermarkets," said Amy Gennaro, Vice President, Senior Commercial Banking Officer, mBank.
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 and talent 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. Visit Pure Michigan Talent Connect at www.mitalent.org for more information on Michigan's online marketplace for connecting job seekers and employers. Join the conversation on: Facebook, Instagram, LinkedIn, and Twitter.
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