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Displaying items by tag: Michigan Economic Development Corp

Monday, 19 September 2016 17:05

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.

Published in Other
Sunday, 13 November 2016 14:03

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).

Published in Breaking News
Sunday, 30 October 2016 17:16

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. 

Published in Breaking News

Tuesday, 25 October 2016 12:51

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.

Published in Breaking News
Sunday, 16 October 2016 19:27

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.

Published in Breaking News
Sunday, 16 October 2016 18:55

3 initiatives, $3M for startups: MEDC seeks to boost access to early-stage capital

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.

Published in Finance


Wednesday, 12 October 2016 14:32

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.

Published in Breaking News
Wednesday, 12 October 2016 14:00

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.

Published in Breaking News
Sunday, 02 October 2016 14:19

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

Published in Breaking News

Sunday, 02 October 2016 13:21

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.

Sunday, 18 September 2016 16:42

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.

Published in Talent
Wednesday, 24 August 2016 15:14

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.

Published in Breaking News


Wednesday, 24 August 2016 14:50

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.

Published in Breaking News
Tuesday, 23 August 2016 13:38

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. 

Published in Breaking News
Tuesday, 26 July 2016 12:21

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.

Published in Breaking News

Tuesday, 26 July 2016 09:42

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.

Published in Breaking News
Sunday, 24 July 2016 13:46

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.

Published in Economic Development
Sunday, 24 July 2016 13:45

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.

Published in Finance

Sunday, 24 July 2016 13:40

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. 

Published in Finance
Sunday, 17 July 2016 20:20

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.

Published in Breaking News
Tuesday, 12 July 2016 14:54

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.

Published in Breaking News

Friday, 08 July 2016 12:47

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.

Published in Breaking News
Sunday, 10 July 2016 13:45

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. 

Published in Breaking News
Wednesday, 06 July 2016 15:21

LED lighting manufacturer to invest $6.6M in new facility near Kalamazoo

TecNiq Inc. will invest $6.6 million in the construction of a new 100,000-square-foot production facility in Comstock Charter Township, just east of Kalamazoo.

Published in Breaking News

Friday, 24 June 2016 14:21

Persistent uncertainty over Brexit, EU’s future could affect West Michigan companies

The Right Place Inc. President and CEO Birgit Klohs has one word to describe her reaction to the United Kingdom’s decision yesterday to leave the European Union: Disappointment.

Published in Breaking News
Sunday, 26 June 2016 11:18

MiBiz Growth Report: June 27, 2016

Here is the MiBiz Growth Report for June 27, 2016.

• M&A: German company Kion Group AG, an industrial truck, material handling and logistics automation equipment manufacturer, plans to acquire Dematic Corp. for approximately $2.1 billion in what executives described as a “landmark” transaction. The deal values the logistics and automation firm, whose North American operations are based in Grand Rapids, at an enterprise value of $3.25 billion, according to a joint statement. Dematic generated $1.8 billion in revenues and $166 million in adjusted earnings before interest and taxes during the calendar year 2015. Kion Group will acquire Dematic from funds managed by New York City private equity firm AEA Investors LP and the Ontario Teachers Pension Plan. The deal, which is expected to close in the fourth quarter pending regulatory approval, also carves out “certain liabilities,” according to a statement.

Published in Breaking News
Sunday, 26 June 2016 10:41

REPORTER’S NOTEBOOK: Knowns and unknowns in proposed Grand Rapids neighborhood Meijer

Downtown-ish Grand Rapids could finally get a “real” grocery store sometime in the future, if plans from Meijer Inc. and Rockford Construction Co. Inc. come to fruition. 


Monday, 13 June 2016 10:29

OptiMed receives MEDC grant, acquires California business

OptiMed Specialty Pharmacy in Kalamazoo has received a $500,000 performance-based grant from the Michigan Economic Development Corp. to support a $1.2 million investment for OptiMed’s new home.

Published in Breaking News
Friday, 10 June 2016 11:05

Switch seeks additional tax breaks for West Michigan data center

Kent County and other stakeholders plan “two firsts” in providing abatements for Switch Ltd.’s colocated data center in Gaines Charter Township.

Published in Breaking News
Wednesday, 08 June 2016 15:37

Shipston Aluminum Technologies invests $10M in Spring Lake facility

Shipston Aluminum Technologies Inc., a manufacturer of aluminum safety components, plans to invest $10 million to expand its facility in Spring Lake Township.

Published in Breaking News

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