Gov. Gretchen Whitmer joined the Michigan Economic Development Corporation in announcing Michigan Strategic Fund approval of two projects underscoring the state’s dedication to advancing Michigan’s leadership in future mobility and green energy, as well as grant funding to support new or growing small businesses in core downtown areas around the state.
The two business attraction projects will generate a total investment of $910 million and create at least 1,362 jobs in Michigan, and underscore the state’s leadership in future mobility and clean energy.
"We are strengthening Michigan’s economy by bringing 1,360 good jobs to Michigan residents, expanding on our leadership in mobility and sustainability, creating vibrant communities, and investing in initiatives that will ensure holistic, long-term economic opportunity for all Michiganders,” said Governor Whitmer. “Let’s keep competing to win projects that bring good-paying, high-skill jobs home so everyone, in any community, can ‘make it’ in Michigan. Together, we will continue sending a clear message that Michigan is open for business and building on our momentum.”
Corning invests in manufacturing facility in Saginaw County
Corning Incorporated, a global leader in materials science, plans to construct a new facility in Richland Township where it will manufacture solar components.
The project is expected to generate a total investment of up to $900 million and targets the creation of more than 1,100 jobs. MSF is supporting the project with a $68 million Critical Industries Program performance-based grant and approval of a 15-year State Essential Services Assessment exemption valued at $12.3 million.
In addition, Thomas Township has been awarded a $29 million Strategic Site Readiness Program performance-based grant for public infrastructure, road improvements and other upgrades.
Corning chose Michigan for the project over competing sites in the Midwest and Northeast because of its talent pool and commitment to onshore critical clean energy supply chains.
“We are grateful for the strong leadership, collaboration and support from Governor Whitmer, the Michigan Legislature and the State of Michigan,” said Scott Forester, Corning division vice president and program executive, Solar. “These approved incentives helped confirm Michigan as the natural choice for this new endeavor. The planned new facility will create thousands of local jobs and advance the goal of expanding access to U.S. renewable energy solutions.”
This investment will also drive momentum in making Michigan a Top 5 state in clean energy and support MI Healthy Climate Plan objectives. This will help Michigan achieve 100 percent economy-wide carbon neutrality, spurring economic development and creating good-paying clean energy jobs, positioning Michigan as a leader in the clean energy economy.
“We are thrilled to work with such a great company and to have an investment and job creation project of this magnitude coming to Saginaw County and the Great Lakes Bay Region,” said JoAnn Crary, President of Saginaw Future Inc. “This has been an excellent partnership between Corning, the MEDC, local government entities and Saginaw Future. We are pleased that the MSF Board voted to support this incredible development and look forward to seeking legislative approval.”
Richland Township anticipates approval of a property tax abatement in support of the project.
OEM to call Michigan home will help expand the state’s R&D ecosystem
Lucid Motors, an American OEM of all-electric vehicles, is establishing an engineering and R&D hub in the city of Southfield.
Headquartered in California, Lucid currently employs 27 Michiganders. The company's first vehicle, the Lucid Air, was the MotorTrend Car of the Year in 2021 and represents the first time an OEM automaker's first vehicle has ever received the award. The company recently announced its highly anticipated luxury electric SUV Gravity scheduled for production in late 2024.
The company has identified space in Southfield that will be retrofitted to house its initial team of 200 engineers. As the company ramps up, it will need an additional 50-75,000 square feet of commercial, high-bay and laboratory space.
The project is expected to generate a total capital investment of $10 million and create 262 high-wage jobs over three years with the support of a $6 million Michigan Business Development Program performance-based grant. The company chose Michigan for the project over competing sites in Ohio and Texas because of the attractiveness of the state’s workforce and the number of suppliers in the region.
“The technology in the latest EV is mind-blowing, and Lucid is really pushing the innovation envelope with the Gravity,” said Maureen Donohue Krauss, president and CEO of the Detroit Regional Partnership, which served as lead on the project. “This is exactly the kind of company we want to add to our automotive and mobility sector. As they innovate, they will grow, expand their footprint, create more jobs, and attract other innovators; strengthening our position as the Global Epicenter of Mobility.”
The project will bring many high-wage knowledge economy jobs with a quickly growing automotive OEM and builds on the state’s efforts to position itself as the global leader in future mobility and automotive innovation.
Funding approved to support new and growing small businesses in eligible communities across Michigan
In addition, the Michigan Strategic Fund today approved $750,000 in funding from the Michigan State Housing Development Fund to continue MEDC’s Match on Main Grant Program. The program will serve as a tool to support new or expanding place-based businesses as they seek to launch and grow in core downtown areas and commercial districts by providing up to $25,000 in funding to support an eligible small business through a competitive application process. This funding will further strengthen Match on Main’s role as a foundational MEDC program, ensuring that Michigan’s small businesses will continue to grow and thrive in the state.
This program aims to support the creation and growth of place-based businesses located in Redevelopment Ready Communities® or Michigan Main Street districts across the state, provide needed capital to place-based businesses, create and retain jobs, leverage private investment, activate vacant or underutilized space, and provide eligible communities with a business recruitment and retention tool as they work to grow and support their local entrepreneurial ecosystem.
Since 2019, MEDC has administered Match on Main to support the creation and growth of place-based business. To date, the program has supported 165 businesses – 81 percent of which are in geographically disadvantaged areas, leveraged $14,269,788 in private investment, activated nearly 400,000 square feet of vacant or underutilized space, and created 383 full-time jobs.
“Today’s MSF actions build on our statewide leadership in mobility innovation and clean energy sustainability and will bring additional vibrancy to our small businesses that anchor many downtowns across the state,” said Michigan Economic Development Corporation CEO and Michigan Strategic Fund President and Chair Quentin Messer Jr. “We are grateful to Governor Whitmer, legislators from both parties, and local officials for their continued support for our programs, and we appreciate the ongoing hard work of the Michigan Strategic Fund board. Team Michigan will continue to work to attract and develop our people, support vibrant places and win projects as we encourage businesses of all sizes to ‘Make It in Michigan.’”