[CPEO-BIF] Michigan announcements

["lsiegel@cpeo.org" <lsiegel@cpeo.org>]

Press Release
Michigan Economic Development Corporation 
May 16, 2006


Granholm Announces Projects to Create and Retain Over 3,000 Jobs Statewide

Whirlpool Chooses Michigan for Integration of Maytag Administrative
Offices; Manufacturer Chooses Michigan for Consolidation



Governor Jennifer M. Granholm today announced two company expansions and a
brownfield redevelopment project which are expected to create or retain
3,060 jobs and generate more than $255 million in private investment in
communities throughout Michigan. The expansions and redevelopment are a
result of assistance provided by the Michigan Economic Development
Corporation.

"Michigan has the most aggressive economic plan of any state to attract new
investment and grow new jobs," Granholm said. "These projects demonstrate
that our plan is producing tremendous results for families and communities
throughout the state."

The three projects announced today:

    * Comau Pico Inc. plans to consolidate 13 of its Metro Detroit
operations into a new, four-building North American headquarters and
manufacturing campus in Plymouth Township. DeMattia Group will develop the
$100 million-plus site which will be leased to Comau Pico in a long term
agreement. The project will create 197 new jobs, including 120 directly by
the company and retain approximately 1,360 jobs. A tax credit valued at
more than $7.6 million helped convince the company to choose Michigan
instead of a site in another state. Plymouth Township has approved a
12-year tax abatement valued at $8.6 million to support the project.

    * Toyota Technical Center LLC will use a brownfield Single Business Tax
credit worth $5 million to demolish existing buildings and prepare the
former site of the Ypsilanti Psychiatric Hospital for its new,
state-of-the-art research and development facility in York Township. The
project is expected to involve $150 million in capital investment and
create more than 670 jobs in the state.

    * Whirlpool Technologies LLC will invest $5 million to consolidate its
headquarters in the Benton Harbor-St. Joseph area after its recent
acquisition of Maytag. A tax credit valued at more than $10.4 million over
13 years helped win the company's investment over other out-of-state sites.
The move is expected to create up to 833 new jobs, including 400 added
directly by the company. The consolidation also paves the way for the
potential of up to 150 additional jobs in Michigan.

"Michigan's world-class economic development programs combined with a world
class workforce and strong community partnerships put our state in a great
position to continue landing investment and jobs from the world's most
innovative companies," MEDC President and CEO James C. Epolito said.

In her 2006 State of the State address, Granholm emphasized the importance
of making Michigan a global economic powerhouse in the 21st century. Since
January 2005, the Governor and the MEDC have announced the creation or
retention of more than 85,000 jobs as a result of targeted assistance
provided by the MEDC.

The Michigan Economic Development Corporation, a partnership between the
state and local communities, promotes smart economic growth by developing
strategies and providing services to create and retain good jobs and a high
quality of life. For more information on the MEDC's initiatives and
programs, visit the Web site at www.michigan.org.

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