Mich. OKs Grants For $1B In Business Expansions
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.