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Autumn's Economic Bright Spots
by Lisa Diggs
Autumn has ushered in more bright spots than just the annual leaf spectacle. Here are some highlights on our path to recovery.
More Jobs:
The Michigan Supplier Diversification Fund will help three companies to expand operations and create jobs. The program addresses the current lack of bank financing available to companies that are attempting to diversify into new sectors. As a result, Morley Companies Inc., a marketing organization which has historically served the auto industry, is expanding to capitalize on new opportunities in the IT industry through a new facility in Saginaw. The project is expected to create up to 350 new jobs.
Meanwhile Gaylord-based equipment and machine fabricator, Mark One Corp., will use its loan to expand the use of its newly developed GreenCleen technology, which is expected to revolutionize and decontaminate the steel cleaning process. The project is projected to create up to 50 jobs. The other recipient, Motor City Stamping Inc., of Chesterfield Township, plans to use funds to diversify into the military and defense contracting sectors. Their project is expected to create up to 150 new jobs.
Lotus Bank is funding is The Wannabes, a television comedy aimed at tweens and teens, being produced by Savvy Productions of Howell. In the first phase of filming, the production is spending millions of dollars in Michigan, including the hiring of 100 Michiganders serving as both cast and crew members.
Holland-based Rutherford & Associates, developer of eoStar (a route accounting and distribution management software for food and beverage distributors), recently announced that it has increased its staff by 20 percent, added six new companies to its growing client roster and released their newest version of eoStar.
Systems in Motion, an IT services firm out of California, has chosen to locate a new support center in the Ann Arbor region. The company plans to create 1,084 new jobs in Michigan over the next five years, and to invest $12.5 million in capital.
Investments & Expansions:
Speaking of investments, Farmington Hills-based developer Grand Sakwa Properties has signed a purchase agreement for the former Kmart Corp. headquarters property in Troy.
Unity Studios broke ground on construction of its 104-acre complex in Allen Park. Its first project will begin filming in November.
IBM, in conjunction with the state of Michigan and Michigan State University, recently hosted the grand opening of its newest delivery center for application services located in East Lansing.
Two companies that manufacture energy storage devices and solar panels have reached an agreement to buy Ford Motor Co.'s sprawling Wixom Assembly Plant west of Detroit, which closed in 2007. The 50-year-old plant will get a $725 million facelift and be turned into a green energy park that could someday employ as many as 3-4,000 people.
Dow Corning announced the start of construction in Thomas Township of a new plant that will manufacture monosilane gas, a key material used to make thin-film solar cells.
Dow Corning announced the start of construction in Thomas Township of a new plant that will manufacture monosilane gas, a key material used to make thin-film solar cells.
It will also unveil a solar panel installation and Solar Discovery Center at its corporate headquarters in Midland.
St. Joseph Mercy Oakland opened the first phase of its new $60 million, two-story surgical pavilion in Pontiac.
Michigan Pre-Seed Capital Fund awarded a combined total of $137,500 in micro loan funding to Advanced Battery Concepts of Midland, FreeStride of Ann Arbor, and RealBio, a Kalamazoo life sciences research firm. Each will use the funding to further commercialization of their respective technologies.
Academic Accomplishments:
The University of Michigan, Wayne State University and Michigan State University — known collectively as the University Research Corridor — helped cultivate 28 new startup companies in 2008, placing Michigan third nationally for most startups created in 2008. The economic impact of Michigan's URC is estimated to be $14.5 billion.
University of Michigan hit a milestone with research spending in 2008-09 exceeding $1 billion for the first time ever.
University of Michigan hit a milestone with research spending in 2008-09 exceeding $1 billion for the first time ever.
MSU’s College of Engineering is working to improve the world’s alternative energy future thanks to three grants totaling $141.5 million. The university is going green in other ways too with the recent opening of its Surplus Store and Recycling Center. The $13 million center will accommodate three times the amount of materials as the current MSU recycling facility. This will allow the university to expand recycling collection in 553 buildings on campus.
Though not part of the URC, EMU is also making a significant economic impact in Michigan. Estimated to be $3.7 billion in 2008, this reflects a return of $42 for each dollar received from the state.
Hundreds more schools across Michigan are measuring up to tough state and federal academic goals. The number of schools meeting the standards increased by 5 percent, or by 144 schools, compared with the 2007-08 school year. About 10 percent more are earning A's.
New Business:
Ypsilanti’s Clean Energy Coalition, was awarded a $15 million grant from the U. S. Dept. of Energy for its Michigan Green Fleets project, which aims to expand the use of alternative fueled and advanced technology vehicles across Michigan. The project will assist partners in purchasing 271 alternative fuel vehicles, including hybrids and install 19 alternative fueling stations across Michigan.
Lansing-based Niowave Inc. also received four new contracts with the Dept. of Energy for a combined total of $400,000. Each of the four contracts was awarded for $100,000 for the first phase of the projects, and will be completed in early 2010. Upon completion of the first phase, Niowave will pursue second phase funding that has the potential to add an additional $1 million per project.
Troy-based logistics support and engineering contractor World Technical Services Inc. received the first of two contracts for fuel-efficient vehicle demonstrators, together worth more than $17 million. The contract was through the U.S. Army Tank-Automotive Research Development and Engineering Center in Warren. Troy-based Automation Alley also received a three-year, $1.58 million contract to support production needs on a military parts replacement program.
The Birmingham office of advertising agency McCann Erickson Worldwide announced that it has picked up The Colonial Williamsburg Foundation as a client. The value of the account wasn’t made public by McCann, but the success of the company’s “Pure Michigan” campaign is believed to have been a contributing factor to securing the new account.
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