Projects include plant expansions
The state on April 20 approved tax breaks for 10 projects, including a business support company's proposal to create more than 1,900 jobs in Southfield and a health care company's plans to hire about 1,000 in Flint.
The Michigan Economic Growth Authority board approved a $9.1 million tax break over four years for Farmington Hills-based Minacs Group USA to invest $11 million in expanding at a new facility in Southfield. The project would include call centers and other services.
The board also approved a $61.5-million tax credit over 18 years for Flint Township-based Diplomat Specialty Pharmacy. The company plans to spend $12 million to move its headquarters to nearby Flint and expand in part of the Great Lakes Technology Centre, a former manufacturing and office complex.
Gov. Jennifer Granholm, in a statement announcing the nine corporate projects and a brownfield redevelopment plan in Grand Rapids, said the projects represent efforts to diversify the state's economy beyond manufacturing.
"Our aggressive diversification strategy is paying off," Granholm said. "Very few places have the one-two punch of a competitive business climate and highly skilled work force like Michigan that can attract new investment."
Among other projects, PSCU Financial Services was granted a $3.5 million tax break over five years to encourage the financial service provider to invest up to $12 million to expand in Auburn Hills, creating more than 830 jobs.
The board approved a $4.6 million tax credit over five years for a proposal from Somerset, N.J.-based GalaxE.Solutions, an information technology company, that includes investing $4.2 million and hiring 500 people in Detroit.
The board also backed manufacturers, including a $5.6 million credit over seven years for auto parts maker Magna International Inc. to spend $49.2 million and create about 500 jobs, and a $1.8 million break over seven years for auto parts maker Tenneco to invest up to $15.6 million to create about 185 jobs.
Copyright 2010 The Associated Press.