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Michigan Production Machining Nearly
Complete
June 30,
2004
Michigan Production Machining,
Inc.'s (MPM) new Saginaw facility is nearly complete and the $6.6
million investment is expected to create 25 new jobs. The project was
assisted by a Single Business Tax (SBT) credit and virtually tax-free
Renaissance Zone status.
A SBT credit offered through
the Michigan Economic Development Corporation helped to redevelop the
site, formerly owned by CSX rail, on 1400 Norman St. in the city of
Saginaw. MPM used the $663,371 credit to clean up the contaminated
property, a Saginaw Brownfield site, making it suitable for construction
of a new 35,000 sq. ft. manufacturing facility.
Because the 5.3 acre property
is located within the Saginaw Northeast Renaissance Zone, the business
will operate virtually free of state and local taxes. MPM, a
manufacturer of machine power train parts, is expected to invest a total
of $6.6 million in the new facility and create 25 new manufacturing
jobs. SFI assisted the company with the tax incentive and site location
process. MPM is an automotive supplier that will perform processing
operations on aluminum engine blocks for GM - Saginaw Metal Casting
Operations.
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