April 25, 2008
April 25, 2008
Mission to focus on homeland security and defense, alternative energy, water re-use, and advanced manufacturing investment
LANSING - Governor Jennifer M. Granholm will begin an overseas investment mission to Israel and Kuwait on Wednesday, April 30, to meet with company leaders and encourage them to invest and grow in Michigan. The mission will be the governor's sixth overseas investment mission since 2004. Granholm's previous investment missions to Germany, Austria, Japan, and Sweden resulted in 37 companies announcing over $818 million in new investment and more than 9,000 jobs created and retained. State economic development officials will accompany Granholm on the mission.
"These missions are all about encouraging international companies to create jobs and grow the economy in Michigan," Granholm said. "Our focus on expanding high-growth sectors and our new economic development tools give us real advantages in winning new investment and jobs from companies around the globe."
The trip will focus on job creation opportunities with companies in the high-tech automotive, alternative energy, and environmental technology industries. Israel is a world leader in homeland security and water preservation technology development. Kuwait is home to Dow Chemical's joint venture EQUATE, a plastics and chemical producer. Granholm said the region's mix of industries provides ripe job creation opportunities for Michigan.
"Israel and Kuwait have a mix of industries that closely mirror the new industries we want to grow in Michigan," said Granholm. "We think there are rich opportunities to partner and create jobs here in Michigan."
In Israel, Granholm will meet with companies already doing business in Michigan as well as companies considering expansions into North America, including Cleantech Ventures (alternative energy), Raval ACS (automotive), Inspire Investments (venture capital), Mekorot (water re-use), Tadir Gan Group (automotive), and Elbit Systems (homeland security/defense).
The governor will also meet with members of the American Israel Chamber of Commerce, the Manufacturers' Association of Israel, the American Israel Friendship League, and the country's leading government and industry experts in water treatment technologies. Granholm also is scheduled to meet with Israeli Prime Minister Ehud Olmert and other senior officials of the government.
The governor will then travel to Kuwait to meet with top government officials and visit Dow Chemical's joint venture EQUATE.
"Our willingness to go anywhere and do anything to bring jobs to Michigan is bringing an infusion of global companies investing, expanding, and opening their doors in our state," Granholm said.
Following her missions to Japan in 2005 and 2006, 21 companies stated their intention to expand in Michigan, including DENSO, Konica Minolta, Meiden American, Mitsubishi Heavy Industries, and Tokai Rika for a total investment of $339.4 million and 2,248 jobs created and retained.
Her investment missions to Germany in 2004 and Germany/Austria in 2007 resulted in several companies announcing investments totaling $397 million and 4,532 jobs created and retained, including Behr America, Eberspacher, Bosch, Karmann, Mahle, FACTON, Kostal, MBTech Autodie, and AVL. Her mission to Sweden and Germany in 2007 resulted in Atlas Copco, SECO Tools, MS Precision Welding, Brose, Behr-Hella, and EDAG announcing $82 million in new investments and 2,397 jobs created and retained.
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