State officials OK grant for $1B in business expansions
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LANSING, Mich. (AP) -- State officials say they have approved incentives for 14 business expansions that could generate more than $1 billion in investments and about 4,600 jobs in Michigan.
Gov. Rick Snyder announced Wednesday the Michigan Strategic Fund approved the performance-based grants for projects across the Lower Peninsula.
Highlights include expansions by Japanese auto parts supplier Denso Corp. It plans to invest about $150 million in its operations in Battle Creek and the Detroit suburb of Southfield to create about 440 jobs total.
The state says Benton Harbor-based Whirlpool Corp. plans to relocate refrigeration research and development operations to a former Whirlpool plant in the city from Evansville, Ind., and create 180 jobs.
Snyder says he's excited by the "strong foreign investment" and significant boosts to the recovering automotive industry.
Tuesday, May 21 2013 6:21 PM EDT2013-05-21 22:21:52 GMT
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