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I am pleased to announce that seven companies and three redevelopment projects are expected to create and retain a total of 4,237 jobs and involve more than $167.7 million in new capital investment in communities throughout Michigan. The projects are:

Cayman Chemical Company Inc./Pittsfield Township – The manufacturer of biochemical research products will invest $9.7 million in a multi-phase, 40,000-square-foot expansion in Pittsfield Township. The expansion will create 525 new jobs, including 208 directly by the company. A state tax credit valued at more than $3.1 million over 10 years helped win the company's investment and new jobs over a competing site in the Czech Republic.

DaimlerChrysler Corporation/Trenton – The state of Michigan is offering the automaker substantial incentives to locate a new engine plant at the site of the DCX Trenton Engine Plant. The project would retain 1,324 Michigan jobs, including 485 directly by the company. A state tax credit valued at more than $11.2 million over eight years has been offered to help convince the company to invest in Michigan.

IAV Automotive Engineering Inc./Northville Township – The subsidiary of Germany-based IAV GmbH will invest $18.2 million to relocate and expand its current engineering operation from Ann Arbor to Northville Township. The expansion will create 198 new jobs, including 107 directly by the company. A state tax credit valued at more than $3 million over 12 years helped convince the company to choose Michigan instead of a competing site in Ontario.

Keihin Corporation/Capac – Japan-based Keihin Corporation, through its North American subsidiary Keihin Indiana Precision Technology Inc. (KIPT), will build a $22-million manufacturing facility in the village of Capac in St. Clair County. The new plant will create 570 new jobs, including 260 directly by the company. A state tax credit valued at more than $3 million over 11 years helped win the company's investment and new jobs over a competing U.S. site.

Microposite Inc./Auburn Hills – The designer, developer and manufacturer of advanced composite materials for applications in the construction industry and the oil exploration and transmission industry will invest $7 million to relocate its headquarters from Novi and expand into an existing facility in Auburn Hills. A state tax credit valued at $468,000 over five years helped convince the company to expand in Michigan instead of competing sites in Kentucky and Mississippi. The project will create 101 new jobs, including 62 directly by the company.

Seissenschmidt Corporation/Oscoda Township – The North American subsidiary of Germany-based Seissenschmidt-Group will invest an initial $1.3 million to locate its new North American headquarters at Wurtsmith Air Force Base in Oscoda Township. The project will create 152 new jobs, including 85 directly by the company. A state tax credit valued at $516,000 over seven years helped convince the company to invest and grow in Michigan.

World Alliance Financial Corp. f/k/a Vertical Lend Inc./Troy – The rapidly growing provider of financial services specializing in residential and reverse mortgage loans, has chosen Troy over Jacksonville, Florida, for a new regional headquarters with the help of a $3.5 million state tax credit over five years. The company plans to invest $835,000 in the headquarters which will serve three primary purposes: mortgage originator/call center, corporate data center, and regional administrative services. This new operation, the first in Michigan, will create 619 jobs, including 350 directly by the company.

Tierra Equities LLC/Ann Arbor – State and local tax capture valued at $564,600 and a brownfield Single Business Tax credit valued at up to $720,000 will support the redevelopment of contaminated property located at 200 South Ashley Street in downtown Ann Arbor. Developer Tierra Equities LLC will demolish the existing building on the site and construct a 26,000-square-foot complex that will include retail and office space and five condominium units. The new development will generate over $9.6 million in new capital investment and create eight new jobs and retain 30.

XY LLC/Ann Arbor – A brownfield Single Business Tax credit valued at more than $8.4 million and state and local tax capture valued at $3.6 million will be utilized to redevelop the former YMCA building in downtown Ann Arbor. The developer will demolish the existing structure and build a new complex that will house 117,000 square feet of commercial and retail space, 100 housing units, and a 205-room hotel with restaurant and banquet facilities. The base of the building will also house a new Ann Arbor Transit Authority bus center. The project is expected to create 700 new jobs and $95.8 million in private investment.

Infinity Companies LLC/Grand Rapids - A $282,923 brownfield Single Business Tax credit and state and local tax capture valued at $197,448 will support the redevelopment of the former Loose Leaf Bindery building located at 333-351 Commerce Avenue SW in Grand Rapids. Developer Infinity Companies LLC will renovate and expand the existing structure to include 39 loft apartments and 2,705 square feet of commercial space to include a coffee shop. The project will generate more than $3.3 million in new capital investment and create more than 10 new jobs.

Companies throughout the country and around the globe are choosing to invest and grow in Michigan because of our competitive business climate and first-rate workforce. I will continue to go anywhere and do anything to diversify and grow Michigan’s economy.

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