Displaying items by tag: Michigan Economic Development Corp

Sustainability-focused outdoor shoe manufacturer Holo Footwear Inc. plans to move its headquarters from Portland, Ore. to downtown Grand Rapids, state and local economic development officials announced today.

State lawmakers have reached a compromise on a bill that would allow taxpayers to claim an income tax credit on their investment in a Michigan-based small business.

HOLLAND — State economic development officials have approved grant funding to support an automation manufacturer’s $10 million expansion at the site of a longtime Holland steel fabricator that closed during the COVID-19 pandemic.

GRAND RAPIDS — Despite numerous complexities involved with improving the congested Wealthy Street interchange at U.S.-131, city and community leaders seek to create more connectivity with $10 million recently allocated to upgrade the aging infrastructure.

CASCADE TWP. — The first cohort of companies to receive grants through an air travel technology development program have revealed the fruits of their labor, including a self-driving wheelchair, an advanced flying security camera and a complete 3D model of Gerald R. Ford International Airport. 

Manufacturers throughout Michigan can now apply for grant funding to help cover costs associated with adopting Industry 4.0 technologies.

When the Sault Ste. Marie Tribe of Chippewa Indians sought to establish its first 8(a) certified contracting company, the tribe’s economic development arm turned to a key partner within the state of Michigan for help. 

Advertisements touting Michigan as a summer vacation destination have begun running in key markets across the state and the Midwest.

Michigan could restore a tax credit for companies that conduct research and development here, which supporters say would make the state more competitive for high-tech business investments.

Nearly $237 million in federal funding coming to the state is planned to support small businesses in Michigan through lending initiatives and equity investments in venture capital funds.

WYOMING — Industrial recycling and scrap management company PADNOS plans to invest $6.6 million to expand its facility in Wyoming.

Economic development organization Lakeshore Advantage Corp. launched an Industry 4.0 readiness poll last year to get an idea of how small and mid-size manufacturers viewed and used advanced technology within their operations.

Gov. Gretchen Whitmer met virtually on Friday with a group of elected officials, educators, economic developers and business leaders to discuss the direction of her administration’s new Office of Rural Development.

State lawmakers passed a landmark incentive bill last week that “sends a powerful signal” and gives Michigan new tools to compete with other states for major projects, according to the state’s top economic development official. Lawmakers and the Whitmer administration worked out details for the $1 billion Strategic Outreach and Attraction Reserve Fund following Ford Motor Co.’s announcement in September to invest $11.4 billion and create 11,000 jobs in Tennessee and Kentucky to build facilities that manufacture both electric vehicles and batteries.

Advanced automotive battery suppliers are considering a pair of West Michigan cities for new or expanded manufacturing facilities, MiBiz has learned. 

LANSING — The Michigan Economic Development Corp. has appointed four officials to lead in new roles aimed at business attraction, real estate development and site readiness as the state competes for transformational projects. 

LANSING — The Michigan Economic Development Corp. has appointed four officials to lead in new roles aimed at business attraction, real estate development and site readiness as the state competes for transformational projects. 

With a $205 million expansion project in Holland Charter Township, frozen foods producer Request Foods Inc. is essentially doubling down on its commitment to the region where it got its start more than three decades earlier. 

KALAMAZOO — State officials have approved a loan and brownfield incentives for a $13.2 million, five-story mixed-use development planned at a former industrial site north of downtown Kalamazoo. 

HOLLAND TWP. — Frozen food processor Request Foods Inc. is planning a $205 million expansion in an effort to meet rising demand while diversifying its products and services.

JENISON — With brisk business in two surging market segments, Cellulose Material Solutions LLC is investing in expanding its operations and beefing up production capacity.

Travel Michigan will once again mount full Pure Michigan tourism campaigns starting for the coming winter travel season and extending into 2022 for the traditional busy summertime.

Gov. Gretchen Whitmer seeks to inject $200 million into Michigan technology startups using federal pandemic relief funds.

CASCADE TWP. — L3Harris Technologies Inc., a global tech company that supplies the defense industry, has announced a nearly $2.6 million expansion in the Grand Rapids area.

JENISON — To meet surging demand for its products, Cellulose Material Solutions LLC is planning a $9 million investment to add a second production line and an expansion at its existing facility in Jenison.

Officials at the Michigan Economic Development Corp. say they are moving forward after the organization took a multi-million-dollar hit last year as revenue sharing from tribally owned casinos plummeted during pandemic-related shutdowns.

West Michigan economic development organizations have launched a campaign aimed at preparing local manufacturers to adopt Industry 4.0 technology and practices.

An additional $6.5 million state investment gives pre-seed fund Michigan Rise more capital to back a strong pipeline of startup companies.

Michigan’s new economic chief says the state needs to become more aggressive in retaining and nurturing existing business and seeking investment from outside of the state.

A statewide loan fund that provides growth capital to rapidly growing businesses expects to start doing deals soon after agreements with its initial investors have been finalized.