Michigan Spurs Economic Growth with New Business Investments
LANSING, Mich. – In a significant move to boost the state’s economy, Governor Gretchen Whitmer has announced a set of four projects promising to introduce over 1,300 jobs and a hefty $240 million investment across Michigan communities.
“Michigan is open for business and on the move, creating good-paying jobs and growing our economy so every family can succeed,” stated Governor Whitmer. The new ventures span diverse sectors such as advanced robotics, finance software, and dairy, promising to invigorate local economies and expand the state’s innovation footprint.
Quentin L. Messer, Jr., CEO of the Michigan Economic Development Corporation, expressed, “These companies’ continued vote of confidence in Michigan is appreciated by Team Michigan.” The Michigan Strategic Fund (MSF) Board actively supports the “Make it in Michigan” strategy, which emphasizes People, Places, and Projects.
Teradyne to Launch U.S. Operations Hub in Michigan
Leading robotics supplier Teradyne is set to establish a U.S. Operations Hub in Wixom, Oakland County, backed by a $2.7 million grant from the Michigan Business Development Program. This initiative will result in approximately 230 jobs and a $32 million investment.
The facility will focus on producing industrial collaborative robots, or cobots, and potentially autonomous mobile robots (AMRs). It will also function as a training and service hub.
“Locating this hub in Metro Detroit puts us at the center of U.S. manufacturing and innovation,” remarked Justin Brown, Chief Commercial Officer of the Teradyne Robotics Group. Teradyne selected Michigan for its strong talent pool and robust manufacturing heritage. For more details, visit the UR news center.
Eccalon Establishes Headquarters in Detroit
Technology firm Eccalon will create its headquarters in Detroit, receiving a $10 million grant and a substantial tax exemption for its $25 million investment. The project is expected to create 800 jobs with competitive wages and involves diverse programs ranging from cybersecurity to AI research.
André Gudger, Eccalon’s CEO, noted the strategic choice of Detroit for its legacy of innovation and access to a diverse talent pool. Eccalon aims to contribute significantly to Detroit’s economic landscape. Career opportunities can be explored on their website.
HealthBridge Financial Expands in West Michigan
HealthBridge Financial, a FinTech company, is prepared to expand in Grand Rapids with the support of a $1.5 million grant. This expansion will create 200 jobs and involve a $17 million investment.
“Michigan remains a strategic home for our growth,” said Gregory VandenBosch, CEO of HealthBridge Financial. The company considered other states but chose Michigan due to its deep roots in the area. For job inquiries, visit their website.
MMPA to Advance Dairy Processing Plants
The Michigan Milk Producers Association plans to invest $122.6 million in facilities in Ovid and Wheatland Township, creating 76 jobs. Supported by various grants and exemptions, these projects are essential for local economies, especially in Mecosta County, which faces high unemployment rates.
President & CEO Joe Diglio highlighted the strategic importance of these investments for the cooperative and its member-owners. The dairy sector remains a vital part of Michigan’s agriculture, with the state hosting 850 dairy farms. More information on the projects is available from the Michigan Economic Development Corporation.
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