Development group's help to result in 2,446 new jobs

Date: June 20, 2007
By: Y KATHERINE YUNG, FREE PRESS BUSINESS WRITER
Source: Detroit Free Press

The Michigan Economic Development Corp. said Tuesday it is helping five companies expand in the state and supporting two retail and commercial redevelopment projects, resulting in 2,446 new jobs.

The bulk of the jobs will come through redeveloping Universal Mall in Warren.
The two economic redevelopment projects selected for state assistance are Universal Mall and a vacant industrial building in downtown Grand Rapids.

At Universal Mall, which opened in 1965, 600,000 square feet of new retail and commercial space for multiple stores will be built and a 100,000-square-foot anchor building and a multiplex theater will be rehabilitated. The project is expected to create as many as 2,000 jobs when the mall is redeveloped.

The Grand Rapids project will house a production facility and tasters' room for Founders Brewing Co., creating 16 jobs and preserving 21 others.

All the companies receiving state and local tax breaks and credits:

• Hitachi Automotive Products (USA) Inc.: The auto supplier plans to expand its Farmington Hills technical center, creating 100 jobs at the company. It will receive a state tax credit valued at $1.3 million over seven years. The City of Farmington Hills has approved a 6-year tax abatement worth $859,000.

• LMS North America: The Belgium-based engineering services firm plans to expand its operations in Troy. The move will create 50 jobs at LMS. The company will receive a state tax credit valued at $686,000 over seven years, up to $25,000 in job training funds and a 12-year tax abatement from the City of Troy worth $30,697.

• Media Genesis Inc.: The Madison Heights Web site developer plans to move into a larger facility in Royal Oak. The move will generate 155 jobs at the company. Media Genesis will receive a state tax credit valued at $1.3 million over seven years. The City of Royal Oak reduced the selling price of a property it owned next to Media Genesis' new building by $45,742. The company could use the property as a parking lot.

• General Mills Operations Inc.: The subsidiary of General Mills Inc. will expand its Yoplait yogurt factory in Reed City. The larger plant will lead to 25 jobs. The company will receive a state tax credit valued at $166,000 over seven years, $500,000 in community development block grant funding for wastewater treatment plant improvements and a 12-year tax abatement worth $5 million from Reed City.

• Signa Group Inc.: The manufacturer of aluminum extrusions, also known as Whitehall Industries, will expand its facilities in Ludington and Pere Marquette Township in Mason County. The move will create 100 jobs at the company. Signa will receive a state tax credit worth $704,000 over seven years and local tax abatements worth $413,000 over 12 years.

Contact KATHERINE YUNG at 313-222-8763 or kyung@freepress.com.