In high school, especially economics class, I was a big fan of the glossary. Since I think it will help regarding this story, here are some terms you may feel the need to revisit during this story:

MPI Research, Inc. - Life sciences company planning $330M expansion in Mattawan and Kalamazoo creating 3,300 new jobs and 3,300 indirect jobs.

BAE Systems - Global defense company launching $58.4M expansion in Sterling Heights creating 460 new engineering and high-tech jobs and 559 indirect jobs.

Wayne County Brownfield Development - Supporter of $72M development of Pinnacle Race Course in Huron Township creating 1,000 jobs.

City of Grand Rapids - Assisting construction of building for Spectrum Health retaining 30 jobs.

Indirect Jobs - Spin-off jobs that are calculated by the state and expected to emerge from investment.

Diversification - Term used by the Governor referring to the state's effort to branch out and attract different kinds of business apart from the traditional automotive factory jobs.

Tax abatement - When a taxing board grants a taxpayer or company a stay of paying taxes for a short or long period of time.

Which brings us to Von Weise, Inc., a company that makes small motors for automobiles and small engine starters for things like lawn mowers. It's moving its operations in Indiana and Missouri to its facility in Eaton Rapids, and will now be headquartered there.
"The best part of the deal is we beat out Juarez, Mexico," said Mayor James Davidson.
They did it with some key incentives from both the state and the city.
They include, a state tax credit of more than $1.1 million dollars over seven years, and an $800 thousand dollar grant from the state to buy equipment. The city also waived an equipment tax that shakes out to $139 thousand dollars. That tax abatement stretches 12 years.
This investment comes on the heels of Dowding Industries deciding to stay and expand in Eaton Rapids, which according to the Mayor really helps diversify the business landscape there. Dowding is an alternative energy company that makes wind turbines.

As for the overall announcement of five projects including MPI Research, BAE Systems, and two developments in Grand Rapids and Huron Township, Governor Jennifer Granholm called it phenomenal news.
"These five projects will create 8,983 new jobs," she said at a press conference Tuesday. "That's $468 million dollars in investment in Michigan."