November 15, 2005
November 15, 2005
State Brownfield Credits Open Door to New Private Investment
Governor Jennifer M. Granholm today announced plans for construction of a new refrigerator/freezer warehouse for Lipari Foods on its present site in Warren, creating 50 to 75 new jobs and retaining 200 current jobs. The $18 million project is made possible by a brownfield Single Business Tax credit approved by the Michigan Economic Development Corporation.
“The growth of an established business is good news for the state and for the community,” Granholm said. “This expansion will attract further development in the area and new opportunity for local residents.”
VJL Real Estate LLC of Warren will use a tax credit valued at $1.3 million to support construction of a 246,000-square-foot refrigerator/freezer warehouse for Lipari Foods, adjacent to the company’s current warehouse operations. An obsolete, 15,000-square-foot structure will be torn down in preparation for the new building. The city of Warren will support the project through local tax increment financing up to $250,000 for demolition and site preparation.
Lipari Foods distributes food products to nine Midwestern states.
“Creating new jobs while at the same time restoring a disused property to the tax rolls is a win-win for Warren and for the state,” MEDC President and CEO James Epolito said. “This is how our brownfield incentives were designed to work, turning lemons into lemonade.”
In her 2005 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005 the Governor and the MEDC have announced the creation or retention of more than 64,000 jobs as a result of targeted assistance provided by the MEDC.
The expansion is one of nine economic development projects the Governor announced today. In all, they are expected to create a total of 1,573 Michigan jobs.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more
information on the MEDC’s initiatives and programs, visit the Web site at www.michigan.org.
