The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of two business expansion projects that are expected to generate nearly $15.3 million in investments and add up to 273 new jobs in Southeast and West Michigan.
“Today’s expansions in our automotive sector highlight Michigan’s leadership in making things and making things work,” said MEDC president and CEO Michael A. Finney. “These investments demonstrate that our economic climate is more business-friendly than ever and our manufacturing talent pool can compete with any place in the world.”
NBJX USA Inc., a China-based corporation established in 2005, provides auto parts including bushings, dampers, and mounts to OEMs and Tier 1 suppliers. The company plans to acquire a building in Canton Township to be used for office, warehousing, lab testing and possibly manufacturing, investing up to $8 million and creating 75 new jobs. As a result, the project has been awarded a $300,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Indiana. Canton Township has offered support to the project in the form of property tax abatement. To learn about employment opportunities with NBJX USA, visit www.jianxin.com.
Summit Polymers, Inc., founded in 1972, is a Tier 1 supplier of automotive interior kinetic and decorative components and systems. The company plans to expand its existing operations in the City of Portage and the Village of Vicksburg in Kalamazoo County and the City of Sturgis in St. Joseph County. The company plans to invest nearly $7.3 million and create 198 jobs, resulting in an $800,000 MBDP performance-based grant. Michigan was chosen over competing sites in Kentucky, Ohio and Missouri. The communities have offered support to the project in the form of property tax abatements. Individuals interested in careers with Summit Polymers should visit http://www.summitpolymers.com/jobs.
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.