State Tax Commission will decide whether to approve 12-year property tax incentive for project expected to anchor Michigan's AI ambitions SALINE TWP. — Oracle has formally applied for a 12-year property tax exemption for its proposed artificial intelligence data center in Saline Township, moving one of Michigan's largest-ever technology investments into the next phase of
LANSING - The Strategic Fund Board approved amendments to the MSF incentives authorized in January 2022 for the construction of an Ultium battery manufacturing facility in Lansing, originally a joint venture between GM and LG Energy Solution (LGES). Through the sale of GM’s portion of the battery plant and 100% transfer of state incentives already
LANSING - A Michigan electric vehicle battery manufacturer will not face financial penalties for moving production out of state. The company told the state earlier this month it planned to close two EV plants and lay off nearly 200 workers. Akasol received $900,000 from the Michigan Strategic Fund to establish its metro Detroit presence nearly
GRAYLING - Saab, the Swedish defense and security company, is moving forward with plans to build a $75 million munitions plant in Grayling Township. “We see this as a great step forward, a great opportunity to build a meaningful place in the community, up in Grayling…” said Brad Barnard, vice president and general manager of
LANSING - The Michigan Strategic Fund board approved up to $22 million in State Small Business Credit Initiative (SSBCI) 2.0 Michigan Small Business Venture Capital Program (SBVCP) funding to support two venture capital investment funds. Chris Cook Managing Director - Capital Access at Michigan Economic Development Corporation provides details in this video interview how these
ANN ARBOR - The State Of Michigan will receive $237 million for business loans and funding for Venture Capital companies, part of a $10 billion national program from the Biden Administration. Last week, the Michigan Strategic Fund approved the new program that could start pumping money into Michigan businesses by spring, said Chris Cook, Director
GRAND RAPIDS - Nearly $237 million in federal funding coming to the state is planned to support small businesses in Michigan through lending initiatives and equity investments in venture capital funds. The Michigan Economic Development Corp. aims to deploy the federal funding across five programs, including investing $75 million in one or more venture capital funds
LANSING – General Motors announced Tuesday it will spend $7 billion on four factories, including some $2.6 billion in the Lansing area to build electric vehicle batteries. Another $4 billion will be invested to convert its existing factory in Orion Township to make electric pickups. GM also plans to spend about $500 million to upgrade
LANSING – Two projects generating $7.1 million in private investment will be spent in the Ann Arbor region after receiving $1.1 million in performance-based grants from the Michigan Strategic Fund. Navitas Systems is a leader in integrated design, technology development, and manufacturing of innovative energy-enabled system solutions and energy storage products for commercial, industrial, and government agency
LANSING—Michigan continues to claim its position as the automotive capital of the world with the announcement from Ohio-based Lordstown Motors Corp. on plans to establish an automotive research and development center in Farmington Hills with support from the Michigan Strategic Fund, the Michigan Economic Development Corp. announced. Lordstown Motors received a $1 million Michigan Business
