Thursday, May 29, 2014

Michigan Strategic Fund OKs $xxx in grants for 2 projects expected to create

Michigan Strategic Fund OKs $xxx in grants for 2 projects expected to create | Crain's Detroit Business
The Michigan Strategic Fund today approved economic incentives to several new projects in the state, including two in Southeast Michigan.
Walker-based Challenge Mfg. Co. LLC received approval of a $2.5 million performance-based grant toward a new 400,000-square-foot manufacturing plant in Pontiac.
The $50 million project is expected to create 450 new jobs at the former General Motors Co. Pontiac Assembly Plant at 2100 S. Opdyke Road, which closed in 2009.
.....Also granted at the meeting:
• Green Box NA Michigan LLC, a subsidiary of De Pere, Wis.-based Environmentally Advanced Reclamation Technology HQ LLC, will receive up to $125 million in tax-exempt bond financing for two facilities in the state.
The proposed $200 million projects include a commercial-waste treatment plant in the city of Detroit and a processing plant in Cheboygan.
The commercial waste, mostly from the restaurant industry, will be turned into pellets in Detroit then shipped to Cheboygan, where it will be converted into bath, facial and napkin products, as well as biofuels and fertilizer.
Green Box expects to remove 22.7 million cubic feet of landfill waste annually through the Michigan locations.
The two projects are expected to create up to 331 new jobs.

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