Displaying items tagged: Michigan Economic Development Corp
2017 Outlook: Steve Arwood, Michigan Economic Development Corp.
Steve Arwood hopes to double down on Michigan’s talent attraction and retention efforts in 2017. The CEO of Lansing-based Michigan Economic Development Corp. sees the demand for skilled workers all over the state and hopes that his organization can help to create an effective talent pipeline. Moreover, the MEDC sees itself playing a large-scale role in the state’s development of high-technology transportation.
Grand Rapids apartment developers balance demand, cost as 2017 looms
GRAND RAPIDS — If 2016 was the year of planning for myriad multi-family residential projects around West Michigan, 2017 seems to be the year for execution.
New auto contracts drive growth for SW Michigan contract manufacturer
NEW TROY — After a large bet on the oil and gas industry went south several years ago, Vickers Engineering Inc. struggled to position itself for growth.
Commercial real estate execs optimistic for West Michigan, but remain vigilant
Despite political uncertainty and fears of an impending economic slowdown, commercial real estate and construction stakeholders have faith in the fundamentals of the industry in West Michigan.
Payroll tax abatement could bring Michigan incentives on par with other states
LANSING — The Michigan Economic Development Corp. could expand its toolbox of incentives under a proposed payroll tax abatement program.
With Red Cedar Ventures, MSU looks to seed early-stage growth for university startups
EAST LANSING — A new venture capital firm formed by Michigan State University’s research foundation targets a critical need for early-stage capital for startups in the state.
Snyder names new director for state’s talent development efforts
The state’s Department of Talent and Economic Development (TED) will likely have a new director come end of the month.
MILITARY GRADE: Employers find value in veterans’ military experience, work ethic
After 23 years of active duty in the U.S. Army, Jason Schenkel faced an uncertain future when he retired from the military a little more than a year ago.
MiBiz Growth Report: Nov. 14, 2016
Here is the MiBiz Growth Report for Nov. 14, 2016:
• M&A: Byron Center-based SpartanNash Co. (Nasdaq: SPTN) signed a definitive agreement to acquire certain assets of Caito Foods Service Inc. and its Blue Ribbon Transport business for about $217.5 million in cash, according to a statement. The deal includes an earn-out potential of an additional $12.4 million if the business hits performance targets. SpartanNash, which expects the transaction to be accretive to 2017 earnings, will fund the deal with proceeds from its lending facility. Subject to regulatory and other approvals, the deal is anticipated to close in early January 2017. The combined Caito and Blue Ribbon Transport businesses generate annual revenues exceeding $600 million. Caito supplies fresh fruit and vegetables to groceries and distributors in 22 states in the Southeast, Midwest and Eastern regions of the country. The company has facilities in Indiana, Ohio and Florida. SpartanNash was advised on the deal by Deutsche Bank (financial) and Morgan Lewis (legal).
MiBiz Growth Report: Oct. 31, 2016
Here is the MiBiz Growth Report for Oct. 31, 2016.
• M&A: Ferris Coffee & Nut Co. has acquired Kalamazoo-based Lush Gourmet Foods, a maker of flavored peanuts and almonds. Grand Rapids-based Ferris Coffee & Nut Co. will allow Lush Gourmet to operate under its original brand, according to a statement. Lush Gourmet founder Bisera Urdarevik will join Ferris Coffee & Nut Co. as the company’s creative director of product development. Lush Gourmet’s production will be transferred to Ferris Coffee & Nut Co.’s Grand Rapids headquarters in early 2017, according to the statement. Urdarevik created Lush Gourmet in 2011 while studying as a culinary student at Kendall College in Chicago. Terms of the deal were not disclosed.
Gestamp North America invests $158M in Mason and Chelsea facilities
Automotive supplier Gestamp North America Inc. will invest $158 million to expand its manufacturing facilities in Chelsea and Mason.
MiBiz Growth Report: Oct. 17, 2016
Here is the MiBiz Growth Report for Oct. 17, 2016:
• M&A: Grand Rapids-based Ranir LLC, a manufacturer of a variety of oral care products, has acquired Toronto-based BrushPoint, a maker of toothbrushes. In the deal, for which terms were not disclosed, Ranir will increase its product offerings and distribution footprint in the U.S., Canada and Europe. The BrushPoint acquisition comes on the heels of a deal in July of this year in which Ranir purchased the Rembrandt teeth-whitening brand from Johnson & Johnson Consumer Inc. Last month, the company also said it had purchased the 200,000-square-foot facility at 4701 East Paris Ave. SE where it had been a tenant for 20 years.
3 initiatives, $3M for startups: MEDC seeks to boost access to early-stage capital
A trio of initiatives from the Michigan Economic Development Corp. aims to increase the flow of capital to startups and early-stage companies in the state.
Coastal Automotive invests $6.5M in new Holland facility
Coastal Automotive took the first step in its four-year global expansion strategy by announcing a $6.5 million investment to establish a new manufacturing facility in Holland.
IP Consulting invests nearly $700,000 in Kentwood facility
A West Michigan information technology firm specializing in cyber security, network infrastructure and other services plans to upgrade its facility in Kentwood.
MiBiz Growth Report: Oct. 3, 2016
Here’s the MiBiz Growth Report for Oct. 3, 2016:
• M&A: Glenmoor Village, a Battle Creek-based manufactured home community, has been acquired by Chicago-based Zeman Homes Inc., according to a statement. Zeman, one of the largest private operators of manufactured home communities, now has seven properties in Michigan, plus sites in Arizona, California, Florida, Illinois and Indiana. Terms of the deal were not disclosed. Glenmoor opened in 2002, according to a report in the Battle Creek Enquirer.
Major developments could get funding boost under proposed incentives
To help make Michigan more attractive for large-scale real estate developments, lawmakers want to give developers new options to help fund their projects.
State-backed program aims to grow Michigan’s VC talent pool
Reda Jaber could have gone in a few directions after graduating in 2014 from the University of Michigan with a trio of graduate degrees.
Automation firm Koops to invest $4.9 million in Holland facility
Koops Inc., a manufacturer of custom automation equipment, plans to invest $4.9 million into a new 40,000-square-foot facility adjacent to its headquarters in Holland.
Lost contract spurs Direct Dialog to close GR-area call center; firm working with MEDC to repay grant
A call center operator says the loss of a key contract led to its decision to close its facility in the greater Grand Rapids area.
McCann Erickson and affiliate win $35 million in state marketing contracts
Global advertising firm McCann Erickson and sister company Weber Shandwick won nearly $35 million in new contracts today from the Michigan Strategic Fund.
With Renaissance Zone status, Switch data center to save $1.1 million in property taxes
Switch Ltd.’s site in southern Kent County has been designated a Renaissance Zone after receiving approval today from directors of the Michigan Strategic Fund.
Gun Lake Tribe and MEDC reach partial settlement over revenue sharing
After a more than year-long dispute over revenue sharing, the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians said yesterday that it had come to a partial agreement with the state of Michigan.
Michigan sits out ‘arms race’ to attract national brewery investments
When Deschutes Brewery founder Gary Fish launched a two-year search to locate the Oregon company’s first satellite production facility, one of his top criteria was determining whether the state and local community wanted his business.
Report: Michigan must continue to diversify economy, grow entrepreneurship
Michigan needs to maintain a major push started a decade ago to diversify the state’s economy, according to a study that credits the effort with spurring greater innovation and entrepreneurship.
Proposed $100 million public-private partnership would seed new Michigan VC funds
The trade group for venture capitalists in Michigan wants to form a $100 million fund to match millions in private capital with public investment.
State lawmaker introduces 20-percent angel investment tax credit
New legislation aims to encourage more investors to get involved in supporting Michigan-based startup companies.
West Michigan seeks to ease talent constraints by attracting laid off workers from Dow
Dow Chemical Co.’s decision to shave 700 workers from its workforce in Midland may prove beneficial for West Michigan manufacturers struggling to fill their talent needs.
CEO’s departure adds uncertainty for economic development in Battle Creek
While President and CEO Margie Briganti’s abrupt departure after 14 months at Battle Creek Creek Unlimited left a hole in the leadership of the economic development firm, it also comes on the heels of what’s been a tumultuous two years for the organization.
MiBiz Growth Report: July 11, 2016
Here is the MiBiz Growth Report for July 11, 2016.
• M&A: Belding-based Robroy Enclosures Inc., a subsidiary of Robroy Industries Inc. of Verona, Pa., acquired the assets of Texas-based Attabox Industrial Enclosures, according to a statement. The deal complements Robroy Enclosures’ existing Stahlin Non-Metallic Enclosures brand of fiberglass electrical enclosures. Attabox makes engineered enclosures for the industrial, solar, electrical, telecommunications, HVAC, instrumentation/control, government, oil and gas, and construction markets. Terms of the deal were not disclosed.