10 growing firms pick Michigan

The Michigan Economic Growth Authority Tuesday approved tax incentives for 10 companies choosing to expand or locate in Michigan, as well as two brownfield redevelopment projects. The companies estimate the projects will generate up to $602 million in new private investment, adding a projected 1,911 direct jobs. "From next-generation software development to a $280 million investment in the Upper Peninsula by a partnership of U.S. and Japanese companies, today's MEGA board action highlights Michigan's high value across a broad number of industries," said Michael A. Finney, President and CEO of the Michigan Economic Development Corporation. "These new investments underscore once more Michigan's tremendous talent and the continued growth of core sectors." The MEGA board approved incentives to win the following projects for Michigan over competing states and countries: Atomic Object LLC - The custom software designer and developer plans to invest $983,000 in its Grand Rapids location to support new growth. The company expects the project to create up to 30 direct new jobs, resulting in a state tax credit valued at $161,908 over four years. Michigan was chosen over a competing site in California. The city of Grand Rapids is considering an abatement in support of the project. http://www.atomicobject.com/ Detroit Heavy Truck Engineering LLC - The corporate headquarters of this firm, responsible for the design, engineering, sales and support of heavy trucks and related mining equipment, plans to invest $4.6 million to expand in Novi. The company expects the project to create up to 49 direct new jobs, resulting in a state tax credit valued at $234,152 over five years. Michigan was chosen over competing sites in China and Wyoming. The city of Novi paid administrative fees in support of the project.http://www.dhtellc.com/ Dialogue Marketing Inc. - The provider of customer relationship-management services plans to invest $5 million to expand its call center and customized software development operations in Troy. The company expects the projects to create up to 230 direct new jobs, resulting in a state tax credit valued at $474,012 over three years. Michigan was chosen over a competing site in Utah. The city of Troy is considering an abatement in support of the project. http://www.dialogue-marketing.com/ Health Business Solutions LLC - The full-service denied-claims resolution and performance improvement consulting firm for the health care industry plans to invest $2.6 million to open a new facility in Dearborn. The company expects the projects to create up to 206 direct new jobs, resulting in a state tax credit valued at $816,218 over five years. Michigan was chosen over competing sites in Georgia and Texas. The city of Dearborn is considering an abatement in support of the project. http://www.healthbusinesssolutions.com/ Key Plastics LLC -- The supplier of engineered plastic components to the automotive industry plans to invest $10.3 million to expand in its facilities in Howell, Farmington Hills and Cascade Township. The company expects the projects to create up to 297 direct new jobs, resulting in a state tax credit valued at $1.1 million over four years. Michigan was chosen over competing sites. The city of Howell has approved an abatement in support of the project. http://www.keyplastics.com/ Knape & Vogt Manufacturing Company -- The designer, manufacturer, and distributor of functional hardware, storage-related components and ergonomic products plans to invest $1.24 million to expand in Grand Rapids. The company expects the projects to create up to 122 direct new jobs, resulting in a state tax credit valued at $335,409 over five years. Michigan was chosen over competing sites in Illinois and Wisconsin. The city of Grand Rapids is considering an abatement in support of the project. http://www.knapeandvogt.com/ Lakeside Software Inc. - The software developer plans to invest $6.1 million to expand existing operations in Bloomfield Hills, as well as locate operations in Ann Arbor. Lakeside Software's SysTrack technology is used by enterprise customers to conduct VDI assessment and planning, manage virtualized infrastructures, aid migration to Windows 7 and manage end user experience. The company expects the projects to create up to 198 direct new jobs, resulting in a state tax credit valued at $731,244 over five years. Michigan was chosen over a competing site in California. The cities of Ann Arbor and Bloomfield Hills are in support of the project. http://www.lakesidesoftware.com/ Michigan Iron Nugget LLC -A joint venture between Cliffs Natural Resources Inc. and Kobe Steel Ltd, the company was formed to produce high iron content nuggets through a patented process. The company plans to invest $280 million in a new facility in Tilden Township (Marquette County). The company expects the project to create up to 114 direct new jobs, resulting in a state tax credit valued at $1.9 million over six years. Michigan was chosen over competing sites. Tilden Township is considering an abatement in support of the project. Multi Packaging Solutions -- A leader in print and packaging solutions for the cosmetics, consumer, entertainment, healthcare, and horticulture markets plans to invest $5.3 million to grow its pharmaceutical carton business in Holland and Allegan. The company expects the project to create up to 180 direct new jobs, resulting in a state tax credit valued at $865,119 over four years. Michigan was chosen over competing sites in Indiana, Texas, New Jersey and North Carolina. The cities of Holland and Allegan are considering an abatement in support of the project. Severstal Dearborn LLC - A state brownfield tax credit valued at $10 million, as well as state and local tax capture valued at $19.4 million will support the construction of a high-speed Continuous Annealing Line capable of producing advanced high strength steel at its facility in Dearborn. The project includes demolition, removal of debris, re-routing utility lines and asbestos removal. To date, Severstal has invested over $1.3 billion in equipment and improvements to its Dearborn facility. The project is expected to generate $280 million in new private investment and create up to 70 full-time jobs. http://www.severstalna.com/ Spartan Motors Chassis Inc. - The designer, engineer and manufacturer specialty chassis, specialty vehicles, truck bodies and aftermarket parts for the recreational vehicle (RV), emergency-response, defense, government services, delivery and service markets plans to invest $5.4 million to expand existing facilities in Charlotte. The company expects the projects to create up to 450 direct new jobs, resulting in a state tax credit valued at $8.8 million over 10 years. The city of Charlotte is considering an abatement in support of the project. http://www.spartanmotors.com/ County of Grand Traverse - The Grand Traverse County Land Bank will use state and local tax capture valued at $50,537 to prepare three blighted properties in Interlochen and Traverse City for sale. The project will include infrastructure improvements, site preparation, demolition and lead or asbestos abatement. The project will generate $450,000 in new private investment. The Michigan Economic Growth Authority (MEGA) may, under statute, provide a refundable tax credit against the Michigan Business Tax (MBT) to companies expanding or relocating their operations in Michigan. Tax credit agreements, awarded on the basis of the company's strength of project, program guidelines and MEGA board approval, are earned over time by a company's performance in meeting specified investment and hiring requirements.