Michigan Strategic Fund Approves $140.23 Million in Grants and Bonds

[mr.rwilson]

On Wednesday February 28th, 2007 the Michigan Strategic Fund Board of Directors approved 16 Bonds and 2 Grants for a total of $140.23 million. These funds are expected to assist in the creation of more then 14400 New JOBS. The largest project, The Van Andel Research Institute, is receiving a $60.0 million dollar Bond to expand their medical research and office facilities by 250,000 sq. ft. This project is expected to create 600 new jobs in Grand Rapids by the time the project is completed. I just thought someone besides me might find this interesting.

Industrial Development Revenue Bond Inducement

Creative Merchandising Systems, Inc/Twin Birch, L.C.C.

$3,000,000

20 New Jobs

Kentwood, Kent County

Lapeer Industries, Inc./Brentwood Advisory Group, L.C.C.

$5,000,000

Unknown-New Jobs

Lapeer, Lapeer County

Full Spectrum Solutions

$3,900,000

20 New Jobs

Jackson, Jackson County

Haviland Enterprises

$6,000,000

28 New Jobs

Grand Rapids, Kent County

Gentz Industries, L.C.C.

$4,500,000

75 New Jobs

Warren, Macomb

Industrial Development Revenue Bond Issuing

Hausbeck Pickle Company

$4,785,000

13 New Jobs

Saginaw, Saginaw County

Millennium Steering L.C.C.

$8,000,000

120 New Jobs

Cass City, Tuscola County

Continental Carbonic Products, Inc

$10,000,00

Unknown-New Jobs

Albion, Calhoun County

The Envelope Printery

$3,500,000

90 New Jobs

Warren, Wayne County

Apollo Plating, Inc

$4,050,000

79 New Jobs

Taylor, Wayne County

Nuvar Properties

$2,620,000

20 New Jobs

Holland, Allegan County

Sacred Heart Rehabilitation Center, Inc

$8,230,000

Unkwon-New Jobs

Memphis, Richmond Township

The Van Andel Research Institute

$60,000,000

600 New JobsGrand Rapids, Kent County

Plascore, Inc and Core Ventures

$4,895,000

50 New Jobs

Zeeland, Ottawa County

Surefil Properties L.C.C

$5,400,000

20 New Jobs

Kentwood, Kent County

Pure Flex, Inc

$5,500,000

225 New Jobs

Kentwood, Kent County

Community Development Block Grant Program- Job Creation

Four Winn Parking Lot Project

$800,000

80 New Jobs

City of Cadillac

Community Development Block Grant Program- Planning

I-94 Corridor Development Planning Grant

$50,000

Unknown-New Jobs

City of Hartford, City of Watervliet, Watervliet County

Summary

Amount/ Jobs Created/ Cost Per Job

Bonds $139,380,000/ 1360/ $102,485.29

Grants $850,000/ 80/ $10,625.00

Total $140,230,000/ 1440/ $97,381.94

Health Care $68,230,000 /600/ $113,716.67

Manufacturing $71,150,000/ 1300/ $54,730.77

Job Creation $800,000/ 80/ $10,000.00

Planning $50,000 /N/A /N/A

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On Wednesday February 28th, 2007 the Michigan Strategic Fund Board of Directors approved 16 Bonds and 2 Grants for a total of $140.23 million. These funds are expected to assist in the creation of more then 14400 New JOBS. The largest project, The Van Andel Research Institute, is receiving a $60.0 million dollar Bond to expand their medical research and office facilities by 250,000 sq. ft. This project is expected to create 600 new jobs in Grand Rapids by the time the project is completed. I just thought someone besides me might find this interesting.

[mr.rwilson]

Sorry about the sloppy post. I didn

[egrguy]

Thanks for the post. Kent county got the majority with nearly $80M of the designated funds, and that wasn't including money allotted to metro areas in Holland, Zeeland, etc. Nice news to see W. Mich getting some positive cash flow, even though the VAI was the breadwinner overall. Good news, nonetheless.

[MJLO]

as it should be,

The VAI, could very well be the catalyst to turn the corner for the state, bringing high paying biomedical, and possibly even pharmecutical jobs to the area.