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Monitor Township Mechatronics R&D Facility Expansion Supported

November 6, 2014       Leave a Comment
By: Trevor Keyes

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Mando America Corporation
 

LANSING, Mich. - The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of two business expansion projects that are expected to generate nearly $22 million in investments and add up to 115 new jobs in Michigan.

"Today's investments offer further evidence of Michigan's improving economy and the success of our strategy to help companies grow and add jobs here," said MEDC President and CEO Michael A. Finney. "These projects mean good jobs and greater economic opportunities for Michigan residents."

Mando America Corporation, a manufacturer of automotive braking, steering, suspension and chassis controls for major OEMs, has its research, engineer, sales and marketing operations in Monitor Township (Bay County) and the City of Novi. The company plans call for additional renovation of the Monitor Township facility, investing up to $13.4 million and creating 25 jobs. As a result, the project has been awarded a $200,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Alabama and Georgia. Monitor Township is supportive of the project.

In a letter, Monitor Township Supervisor, Gary Brandt said, "We would like to thank Mando Corporation for their investment in our community - not only for locating in it but for the current and future job creation it intends - We look forward to continuing our support of new and existing company's expansion and investment in our community and do what is necessary to help the company move forward."

Michigan has an expansive research and development community where up to 80 percent of the total U.S. automotive R&D spending takes place, more auto-related research than all other states combined.

Trevor M. Keyes, Acting Interim President & CEO of Bay Future, Inc., Bay County's leading economic development organization said, "Investment in and by high technology companies like Mando, partnered with their position as a Tier 1 OEM in the automotive industry, will continue to pay high dividends to the manufacturers and people of Bay County and the state of Michigan. Manufacturing is our past, present, and future investment by innovative companies like Mando will help secure that future and growth for years to come."

The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.

The other business expansion is for LTC Roll & Engineering Co., Inc. who plans to purchase a facility to expand its manufacturing facility in the Township of Cottrellville (St. Clair County), investing nearly $8.6 million and creating 90 jobs. As a result of the expansion, the project has been awarded a $450,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in other states.

The MSF considers a number of factors in making these awards, including: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.

Pure Michigan is a brand representing business, talent and tourism initiatives across Michigan. These efforts are driven by the Michigan Economic Development Corporation, which serves as the state's marketing arm and lead advocate for business growth, jobs and opportunity with a focus on helping grow Michigan's economy.

Established in 2004, Bay Future, Inc. is a public-private alliance of government, business and other organizations that support economic growth in Bay County and the Great Lakes Bay Region. Bay Future, Inc. is dedicated to facilitating economic development strategies that promote and secure opportunities for business retention, growth, and the attraction of new industries that create quality jobs for community residents

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