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Sunday, November 24, 2024

Michigan Strategic Fund to create nearly 700 jobs: 'Let’s keep growing our economy, creating good-paying jobs, and getting things done'

Whitmer

Gov. Gretchen Whitmer | Michigan.gov

Gov. Gretchen Whitmer | Michigan.gov

Gov. Gretchen Whitmer met with the Michigan Economic Development Corporation to announce approved projects by the Michigan Strategic Fund, which will create nearly 700 jobs to help economic development across the state.

According to a release on April 26, it will include a business expansion by Cassopolis, a global aluminum producer. It also includes the redevelopment of the former GM Warren Transmission Plant and a Bay City community revitalization project among others that will help with the state’s economy. The total capital investment is $330 million.

“Today’s investment will help us continue growing Michigan’s economy by creating good-paying jobs for Michiganders, building on our leadership in the mobility space, expanding our inventory of development-ready facilities, and supporting vibrant communities,” said Whitmer. “Michigan is on the move. Our unemployment is at 4.4% and we have added 174,000 jobs year over year. Investments like today’s are a testament to what’s possible when we work together to put Michiganders first, grow our talented manufacturing workforce, help communities build thriving downtowns, and provide growth opportunities for innovative businesses. Let’s keep growing our economy, creating good-paying jobs, and getting things done.”

For Cassopolis, the new business will bring $150 million in investments and 67 jobs through Hydro Aluminum Metals USA, LLC. The company recycles aluminum into new aluminum extrusion ingots. The parent company Norsky Hydro ASA has 140 locations in 40 countries. It will be building a new facility in Cassopolis to create products for the electric vehicle market and other applications. This is supported by the $1.5 million in Community Development Block Grant funds.

“Hydro is pleased to bring its innovative recycling technology to Cassopolis and looks forward to providing new long-term career opportunities for area residents,” said Trond Gjellesvik, President of Hydro Aluminum Metals USA. “We appreciate the warm welcome we have received from the Village of Cassopolis along with our partners at Midwest Energy & Communications, and we thank the Village and the State of Michigan for their support for our new facility.” 

The Warren Transmission Redevelopment Project involves redeveloping 117 acres that formerly housed General Motors Warren Transmission Plant in Warren. The project includes building three new buildings containing 1.4 million square feet of space for light industrial, manufacturing and subassembly work. It is expected to generate $180 million in total capital investment and could create 600 jobs.

“There’s so much interest in the Detroit Region, we just need more move-in ready sites,” said Maureen Donohue Krauss, president and CEO of the Detroit Regional Partnership. “The Warren property offers companies access to the type of talent, infrastructure, and supply chain they need to thrive. This project reflects the creative redevelopment needed to bring industrial sites back into productive use and better position this region to attract jobs and investment.”

Other projects include community revitalization to renovate two historic buildings in downtown Bay City into housing and reactivated restaurant space. It will occupy North Peak Brewing Company and Kilkenny Irish Pub, as well as three low-style apartments. The project will generate $4.8 million and create 30 jobs.

“The city is very excited to see this project come to fruition. This project will bring even more vibrancy to our downtown and help to continue the positive energy we are seeing in Bay City,” said Bay City Economic Development Project Manager Sara Dimitroff. “The developer has so much passion for our area and wants to be a local and regional partner and we are thrilled to partner with him and MEDC to be sure this project is successful.” 

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