November 18, 2008
Targets investment from defense, IT and medical device companies
LANSING - Governor Jennifer M. Granholm today continued her investment mission in Israel, meeting with high-level executives from some of the country's leading homeland security/defense, information technology, and medical device companies to encourage them to invest and grow in Michigan. Granholm and her delegation, including Michigan Economic Development Corporation (MEDC) President and CEO James C. Epolito, are in Israel and Jordan this week to meet with companies looking to expand their presence in the United States or that are ripe for international investment.
"As the global center of automotive research and development and home to several growing high-tech sectors, Michigan is a perfect match for Israeli firms looking to expand or establish their presence in North America," Granholm said. "Today's face-to-face meetings provided an excellent opportunity to showcase our comprehensive economic strategy and all of the advantages our state has to offer."
The governor and her delegation met with executives from Powermat, a high-tech company bringing wireless electricity to surfaces like walls, tables and floors. Powermat, which is collaborating with a Michigan-based high-tech company, is expected to make an announcement in the near future about an investment in Michigan with the potential to create several hundred jobs.
The governor also met with Senso Optics, an electro-optics company that develops and manufactures products for the homeland security, defense and medical device industries; Multi Gene Vascular Systems, a clinical-stage biotech company that intends to have a presence in Michigan sometime in the next six months to a year; HBR Labs, a software company developing online products for the insurance industry and higher education which plans to open a Michigan operation by the end of the year; and Elbit, one of the world's leading defense electronics companies.
"Like Michigan, Israel is blessed with an amazing amount of talent and expertise," Epolito said. "We are working hard to sell Michigan as the best place in North America for international companies to invest and grow, and I came away from today's meetings confident that our message is resonating with global CEO's and decision-makers."
Granholm and Epolito also met with U.S. Ambassador to Israel James Cunningham at a reception hosted by the ambassador and attended by more than 130 government officials and business leaders.
The investment mission to the Middle East is the governor's seventh overseas investment mission since 2004. Her previous missions to Germany, Austria, Japan and Sweden have resulted in 42 companies announcing more than $944 million in new investment and more than 10,600 jobs created and retained.
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