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Companies investing more than $382 million to grow in Michigan |
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June 15, 2010
LANSING - Governor Jennifer M. Granholm today announced that the Michigan Economic Development Corporation (MEDC) is helping 10 companies grow in Michigan and backing three brownfield redevelopment projects. Combined, the 13 projects are expected to create and retain 10,884 jobs (1,001 direct new jobs) and generate $382.5 million in new investment in the state.
"We're continuing to work hard to diversify Michigan's economy, bring new investment to the state and create jobs," Granholm said. "Companies are choosing to invest in Michigan because of our competitive business climate, skilled workforce and strong public-private partnerships."
The Michigan Economic Growth Authority (MEGA) board today approved incentives to win the following projects for Michigan over competing states and countries:
- Detroit Diesel - The manufacturer of heavy-duty diesel engines for the commercial truck market plans to invest $194 million to expand its existing operations in Redford Township to install new manufacturing processes used in the production of diesel engines. The project is expected to retain up to 7,704 total Michigan jobs, including 1,900 directly at the company. The MEDC estimates the increased economic activity created by the project has the potential to retain an additional 5,804 indirect jobs. Based on the MEDC's recommendation, the MEGA board today approved a state tax credit valued at $56.8 million over 11 years to convince the company to expand in Michigan over a competing site in Mexico. The charter township of Redford has approved an abatement in support of the project. http://www.detroitdiesel.com
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Pension & health care reform to help education |
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May 21, 2010
A key component of our ongoing efforts to transform Michigan's economy is educating our children so they can compete with anyone else in the world. Education is the most important, long-term strategy for diversifying Michigan's economy and for fostering entrepreneurship and creating jobs.
We've had difficulty in adequately funding K-12 schools in Michigan partly because of a structural deficit in the state School Aid Fund. A structural deficit is when costs continue to outpace revenues.
Back in January, I proposed 29 reforms to Michigan government that included changes to pension and health-care benefits for public school employees. These pension and health-care reforms would help to resolve the structural deficit in the School Aid Fund, and they were included in my state budget recommendation that I presented to the Legislature in February.
Earlier this week, I signed into law two bills that implement these reforms. And they accomplish several things.
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Pure Michigan important of state's tourism |
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May 7, 2010
Spring in Michigan marks the return of both warmer weather and the Pure Michigan advertising campaign.
This week, Pure Michigan television ads began running on cable channels throughout the nation, touting the wonders and the beauty of our state. The campaign will run through early July.
With Pure Michigan, we're marketing our state as a travel destination in a way never done before in Michigan history. And that's being recognized by others such as Forbes, which named Pure Michigan one of the 10 best travel campaigns of all time.
Tourism is one of the sectors we've targeted to help diversify Michigan's economy and create jobs. And Pure Michigan has been tremendously successful in generating more visitors to our state.
Last year, the national and regional Pure Michigan advertising campaigns motivated two million trips to Michigan from out-of-state. Those visitors spent more than $500 million at Michigan businesses.
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