LANSING, MI (WILX) -- Hundreds of jobs could be coming to Michigan.
The Michigan Economic Development Corporation (MEDC) announced Tuesday that the Michigan Strategic Fund (MSF) has approved projects expected to generate $625.2 million in total investment and support the creation of 555 jobs within the state.
“The projects approved by MSF today will have positive economic impacts in communities throughout the state, from Albion to Detroit and Holland to Vicksburg, and will help build on our efforts to make Michigan communities vibrant places to live, work and play,” said Jeff Mason, CEO of MEDC, the state’s chief marketing and business attraction arm that administers programs and performs due diligence on behalf of the MSF.
German insulation manufacturer Knauf Insulation is expanding in Albion as a part of this announcement. The company was established in 1978 and is a multinational producer of building materials and construction systems.
This expansion is expected to generate a private investment of $32.4 million and create 34 jobs, resulting in a $204,000 Michigan Business Development Program performance-based grant.
Paper City Development of LLC received MSF approval of a Transformational Brownfield Plan for its Transformational Brownfield Plan for its proposed multi-site mixed use redevelopment project in the village of Vicksburg and Schoolcraft Township that will include a hotel and residential space, an incubator space for microbreweries, a beer garden and more.
The project is expected to generate a total private investment of $80 million and create 221 permanent, full-time equivalent jobs.
The city of Detroit Brownfield Redevelopment Authority is another one of the various entities to receive MSF approval of a brownfield work plan including local and school tax capture in the amount of up to $92,853,618 for the alleviation of brownfield conditions at the site of the FCA US LLC Mack Engine Plant.
This project is expected to generate a total capital investment of $1.7 billion with the creation of about 3,850 permanent full-time jobs.
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