Displaying items tagged: Michigan Economic Development Corp
MiBiz Growth Report: June 11, 2018
Here is the MiBiz Growth Report for June 11, 2018:
Ventra Ionia to invest $4.85 million in Ionia facility
Automotive supplier Ventra Ionia Main LLC, is expanding its operations with the purchase of a 48,900-square-foot facility in Ionia, the company announced Wednesday.
MiBiz Growth Report: May 29, 2018
Here is the MiBiz Growth Report for May 29, 2018.
Amazon formally identified as user of planned Gaines Township distribution facility
After months of secrecy, Amazon.com Inc.’s interest in a proposed Kent County facility is now official.
HexArmor investing $8.7 million into Kent County facility
HexArmor, a Grand Rapids-based personal protective equipment manufacturer, will invest $8.7 million into a Kent County facility and plans to create roughly 50 jobs over the next three years.
Report: Arts/cultural nonprofits drive $1.2 billion in state expenditures
An annual report on Michigan’s nonprofit sector reinforces the industry’s role and place in growing the state economy.
MiBiz Growth Report: April 16, 2018
Here is the MiBiz Growth Report for April 16, 2018.
• M&A: Holland-based JR Automation Technologies LLC, a private equity-backed manufacturer of custom automation equipment, has acquired Setpoint Systems and Setpoint Inc. of Ogden, Utah. The deal further expands JR Automation’s industrial automation offerings for global clients, according to a statement. The acquired companies specialize in automation solutions and motion control systems for the e-commerce and amusement industries. Terms of the deal were not disclosed.
Dairy processor to expand Wyoming plant
A dairy processor plans to expand its existing facility in West Michigan.
Philanthropy as Economic Development? Foundations increasingly step up to kickstart risky community initiatives
The philanthropic efforts of nonprofits and foundations throughout Michigan are increasingly addressing bigger issues such as affordable housing, community revitalization and employment.
Small West Michigan towns get proactive with redevelopment plans
HUDSONVILLE –– While the redevelopment of traditional small downtowns across Michigan may look different than the activity in larger, urban settings, municipalities increasingly are defining their visions and attracting investors.
Sources: Amazon in talks for distribution center in Kent County
GAINES TOWNSHIP –– Developers representing an online retail behemoth are considering a 100-acre site in southern Kent County for a “massive” distribution facility, MiBiz has learned.
Gubernatorial candidates differ on economic development strategy
LANSING –– The crowded field of candidates seeking to become Michigan’s next governor offer distinctly different views for how they would shape the state’s economic development policy.
Downtown Market reports sales growth as it continues to restructure debt
The Grand Rapids Downtown Market continues to restructure long-standing debt tied to a state economic development incentive as it attempts to stabilize its finances.
MiBiz Growth Report: Feb. 5, 2018
Here is the MiBiz Growth Report for Feb. 5, 2018
• M&A: Grand Rapids-based Alliance CNC Cutter Grinding Services Inc. was acquired by GWS Tool Group LLC of Tavares, Fla., according to a statement. Alliance CNC is a designer and manufacturer of tight tolerance drills, reamers and micro-tools. With the deal, GWS adds hole-making tool capabilities to its existing focus in round tools, endmills and inserts. Terms of the deal were not disclosed, but Alliance CNC will continue to operate out of its Grand Rapids area plant with its existing management team. GWS Tool Group is a vertically integrated manufacturer of engineered cutting tools for the aerospace, defense, power generation, automotive and medical industries.
Walker automation firm to invest $4 million into new facility
Automation provider Axis Company LLC plans to invest $4 million into a new facility.
Downtown Market extends its development incentive loan repayment
For the fourth time since 2014, the Grand Rapids Downtown Market has asked permission to keep paying only the interest on its loans tied to a state economic development incentive as it seeks to restructure its debt load.
MiBiz Growth Report: Jan. 22, 2018
Here is the MiBiz Growth Report for Jan. 22, 2018:
• M&A: Bridgman-based Kruger Plastic Products has been acquired by Chicago-based private equity firm HC Private Investments, according to a statement. Kruger President Pat Brandstatter and VP of Engineering Dirk Kruger retained “significant stakes” in the custom injection molding company. Terms of the deal were not disclosed. Grand Rapids-based Varnum LLP served as legal counsel to Kruger, which was advised on the transaction by BlueWater Partners LLC, a Grand Rapids-based investment banking and consulting firm.
Q&A: Ryan Kilpatrick, Ottawa Housing Next
Ryan Kilpatrick hopes to lend his experience in economic development to a new housing initiative in Ottawa County. After four years as a senior community assistance specialist at the Michigan Economic Development Corp., Kilpatrick departed from the organization this month to become the first executive director of Ottawa Housing Next, a public-private partnership tasked with bringing more affordable housing options to Ottawa County, the state’s fastest growing municipality. Before making the transition, Kilpatrick spoke with MiBiz about how the organization hopes to tackle the need for affordable housing in the lakeshore community.
MEDC to focus on talent initiatives to help employers
Jeff Mason took over in mid July as CEO of the Michigan Economic Development Corp. after eight years of running the University Research Corridor, a coalition of the state’s top three research universities including Michigan State, Wayne State and the University of Michigan. According to Mason, talent remains the top issue for the MEDC, particularly as the state’s economy continues to grow.
Third Coast Development gets additional $1 million for Michigan Street project
The developers of a mixed-use project on Michigan Street have received an added $1 million in state incentives to offset unforeseen costs and finish the project.
MiBiz Growth Report: December 11, 2017
Here is the MiBiz Growth Report for Dec. 11, 2017.
Report: Michigan positioned for ‘next wave’ of tech innovation in manufacturing, products
Michigan rates far better today than nearly two decades ago for having a knowledge-based economy.
Spiech Farms files for bankruptcy after two troubled harvests in 2017
PAW PAW — A Southwest Michigan-based provider of fresh and frozen blueberries, asparagus and grapes has filed for Chapter 11 bankruptcy protection in the U.S. District Court for the Western District of Michigan.
Entrepreneurial support takes different routes across West Michigan
GRAND RAPIDS –– Partners in West Michigan’s startup ecosystem continue to explore how best to allocate resources to the region’s entrepreneurs.
MiBiz Growth Report: Nov. 13, 2017
Here is the MiBiz Growth Report for Nov. 13, 2017:
• M&A: Wabash, Ind.-based Martin Yale Industries LLC, a portfolio company of Grand Rapids-based private equity firm LV2 Equity Partners LLC, acquired Dry-Lam LLC of Shawnee, Kan., according to a statement. The transaction marked the second bolt-on acquisition for Martin Yale, a manufacturer of print finishing, office and mailroom equipment. Dry-Lam is a distributor of laminating equipment and films to the office product and commercial print finishing industries. Terms of the deal were not disclosed, but Dry-Lam’s distribution center will be relocated to Martin Yale’s Indiana facility.
Food processor Litehouse expands in Lowell
Litehouse Inc., a producer of food dressings, sauces and oils, is investing up to $9.9 million and creating 77 new jobs as part of a project at its plant in Lowell.
SEI to open Grand Rapids office
A forecast for aggressive growth drove Kentwood-based Service Express Inc. to open a 40,000-square-foot office in the city of Grand Rapids.
MiBiz Growth Report: Oct. 30, 2017
Here is the MiBiz Growth Report for Oct. 30, 2017:
• M&A: Stryker Corp. acquired a majority interest in French medical device company Vexim SA and plans to make a tender offer to buy out its remaining shareholders. The Kalamazoo-based Stryker (NYSE: SYK) acquired 50.7 percent of shares and 50.3 percent of voting rights to Vexim, based in Balma, near Toulouse, France. Stryker paid 20 euros per share to funds managed by Truffle Capital, Bpifrance and Kreaxi, as well as Vexim managers. Vexim said the acquisition of the majority stake by Stryker has an equity value of 183 million euros, which equates to about $216 million. Vexim specializes in devices for minimally invasive procedures to treat traumatic spinal pathologies.
MiBiz Growth Report: Oct. 2, 2017
Here is the MiBiz Growth Report for Oct. 2, 2017.
Newell Brands plans $7.3 million expansion in Kalamazoo
Newell Brands Inc. plans to invest $7.3 million and create 87 new jobs as part of an expansion at its R&D facility in Kalamazoo.