LANSING, Mich. – The Michigan Economic Development Corporation announced Michigan Strategic Fund approval of projects including business expansions in Zeeland, Detroit and Sterling Heights; community revitalization projects in Lansing; and actions that grow opportunities for Michigan’s small businesses and tourism and hospitality industry.
The projects represent a total capital investment of more than $424 million in communities across the state.
“Today’s approvals will create over 1,000 good-paying jobs for Michiganders while building on our mobility leadership, increasing our inventory of site-ready facilities, supporting vibrant communities, and investing in initiatives to ensure long-term economic opportunities for businesses in the state,” Gov. Gretchen Whitmer said. “These investments will grow the economy and help us continue moving Michigan forward.”
Among the projects:
- Leading auto supplier Gentex expanding in Zeeland, creating 500 jobs, investing $300 million. Gentex Corporation plans to construct a new high-tech manufacturing facility and distribution center in Zeeland Charter Township, and also expand its existing manufacturing facility in the city of Zeeland.
- Global defense vehicle manufacturer American Rheinmetall Vehicles expanding in Sterling Heights, creating 150 high-wage jobs. ARV is growing its design and development, engineering and system integration and plans to build a new North American headquarters facility in Sterling Heights. The project is expected to generate a minimum capital investment of $3 million and create more than 150 high-wage jobs.
- New spec industrial building will create in-demand, move-in-ready facility, help attract new businesses to Detroit. The AMC Headquarters Redevelopment Project will redevelop the approximately 50 acres of the former American Motor Company headquarters site in the city of Detroit, including the construction of an approximately 790,000 square-foot building for warehousing or light assembly industrial tenants. The project is expected to result in a total capital investment of $66 million, and when fully occupied, will result in the creation of more than 350 full-time equivalent jobs.
- Former Lake Trust Credit Union headquarters to be renovated into mixed-use development in downtown Lansing. 501 and 503 S. Capitol, LLC are redeveloping the former Lake Trust Credit Union headquarters and adjacent parking lot in downtown Lansing. The project is expected to generate a total capital investment of $17.9 million and create nine full-time equivalent jobs, supported by MSF approval of state tax capture valued at $855,628. The 503 project is expected to generate a total capital investment of $31.2 million and create five full-time equivalent jobs, supported by state tax capture valued at $427,482. In total, the projects will generate a capital investment of $49.2 million and create 14 jobs. The tax capture will be used for the reimbursement of brownfield activities at the sites.
“The projects approved today reflect Team Michigan’s people-first approach to economic development that creates economic opportunity in West Michigan and Metro Detroit and uplifts risk-taking entrepreneurs, while supporting needed housing and vibrancy in downtown Lansing,” said Quentin L. Messer, Jr., CEO of MEDC and President and Chair of the MSF Board. “We are grateful to Governor Whitmer, legislators and local officials for their continued support and partnership. Today’s projects demonstrate our continued focus on building a championship economy here in Michigan and send a clear message that Michigan is a place where businesses, communities, and people can take risks, succeed, and grow.”