Ventra Ionia Main, LLC is expanding in Ionia with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. The expansion is expected to generate $8.5 million in new private investment and add 144 new jobs.
“The jobs and investment from Ventra’s expansion will keep Michigan moving in the right direction as a comeback state,” said MEDC President and CEO Michael A. Finney. “It is through the efforts of The Right Place and the Ionia County Economic Alliance that this expansion is taking place, and we are pleased to support the collaboration.”
Ventra Ionia Main, LLC, a subsidiary of Ventra Greenwich Holdings Corp., manufactures automotive front and rear bumpers and grille assemblies for original equipment manufacturers. To fulfil newly awarded contracts, the company plans to expand its City of Ionia operations, investing up to $8.5 million and creating up to 144 new jobs. As a result, the company has been awarded a $500,000 Michigan Business Development Program performance-based grant. The company chose Michigan over competing sites in Indiana and Mexico. The City of Ionia has offered support to the company’s project in the form of property tax abatement. Individuals interested in exploring employment opportunities with Ventra in Ionia can apply at the Ionia Service Center at 307 W. Adams in Ionia through June 30. After June 30, interested candidates should call (800) 676-3600 (Greenville Service Center) to find out the process to follow.
“Ventra’s latest investment in Ionia reaffirms the economic growth that has continued to occur in the county,” said Jen Wangler, business development manager, The Right Place and Ionia County Economic Alliance. “Including this latest announcement, ICEA has spurred nearly 290 new jobs and $70 million in new capital investment in Ionia County over the past two years.”
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 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.
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