6 Mich. firms get financial boost

Posted on November 19, 2012

Six Michigan-based companies — including three in Metro Detroit — have been approved for incentives that will generate an estimated $110 million in investments and add 616 jobs here, the Michigan Economic Development Corp. said Friday.

The Michigan Community Revitalization Program provides grants, loans or other economic assistance of up to $10 million toward revitalization efforts.

In Metro Detroit, the incentives will be used to expand a Dearborn-based military vehicle supplier, relocate a Livonia-based rivet manufacturer to Lyon Township and revitalize a stretch of retail and commercial space in Detroit’s Corktown neighborhood.

The Armored Group, which supplies SUV ballistic vehicles, SWAT vehicles and Cash in Transit vehicles to government agencies around the world, promised to invest $1.5 million in expansion and create 240 jobs after receiving a $1 million state performance-based grant, as well as a five-year tax abatement from Dearborn Heights.

Henrob Corp., which manufactures self-piercing rivets for the automotive industry, will move its headquarters from Livonia to Lyon Township, investing $68.5 million and adding an estimated 152 jobs. It was awarded a $300,000 state performance-based grant as well as a 12-year tax abatement worth $3.3 million from Lyon Township.

Detroit Mutt LLC plans to renovate a project at 1444 Michigan Ave. that will generate up to $486,414 and create two jobs.

It was awarded a $38,000 Community Revitalization Program performance-based grant, as well as a 12-year tax abatement from Detroit worth $45,318.

The other incentives will help renovate an Owosso theater and expand automotive-related companies in Portage, Sturgis, Vicksburg and Wyoming.

“From leading-edge technology to the renovation of a historic theater, these projects will further our aims to revitalize our state and bring new jobs to our communities,” MEDC President and CEO Michael Finney said in a statement. “We are leveraging Michigan’s highly competitive business climate and tremendous work force capabilities into real opportunities for growing companies.”
Michael Martinez, Detroit News