LANSING, MI (WKZO AM/FM) – Tuesday, Governor Gretchen Whitmer and the Michigan Economic Development Corporation (MEDC) announced two projects in Southwest Michigan that are expected to create 90 new jobs in Portage and Decatur.
“Today’s $10.8 million investment by Midwest Fastener will create jobs and uplift communities in Southwest Michigan,” Governor Whitmer said. “This project will help us continue Michigan’s economic jumpstart with 90 good-paying jobs in Portage and Decatur and additional housing in Kalamazoo. We will stay laser-focused on expanding economic opportunity for Michiganders across the state by creating jobs, supporting small businesses, and adding vibrancy to downtown areas.”
Midwest Fastener expanding its headquarters in Portage; growing facility in Decatur –
Founded in 1966 and headquartered in Portage, Midwest Fastener Corp. is a leading manufacturer and distributor of nuts, bolts, anchors, deck and drywall screws and specialty fasteners.
The company recently purchased Hy-ko Products in Northfield, Ohio, resulting in the need for Midwest Fastener to expand its office space and distribution operation.
To secure the company’s $10.8 million investment in its headquarters and distribution center expansion in Portage and Decatur and creation of up to 90 jobs, the company has been awarded a $500,000 Michigan Business Development Program performance-based grant.
“Midwest Fastener Corp. has been blessed with continued growth and again needs to expand our Portage facility and staff to support our growing customer base. We are optimistic about the future and our commitment to the community of Portage is stronger than ever,” MFC President Andy DeVries said. “Midwest sincerely appreciates the support received from the Michigan Business Development Program, Michigan Economic Development Corporation, and the city of Portage in the creation of up to 90 new jobs in Portage and Decatur. Without this support, MFC could not have achieved these great successes.”
Officials say the project represents a job creation mix spanning across positions for both headquarter operations, as well as skilled and unskilled laborers for its warehouse and distribution center.
“The investments being made by Midwest Fastener Corporation are important to the Portage community. Midwest Fastener Corporation is a locally owned and operated business that began operations in 1967 and moved to the Shaver Road location in 1983,”Portage City Manager Joe La Margo said. “Over the years, several facility expansion projects have been completed increasing operations and expanding job opportunities for local residents. The city of Portage proud to support this locally owned and operated company on their most recent expansion project.”
The city of Portage has offered a 50-percent property tax abatement in support of the project.
Individuals interested in careers with Midwest Fastener should visit https://www.
Renovation in downtown Kalamazoo at 266 Michigan Ave. –
There are also plans to renovate a historic four-story building into a mixed-use development in the Haymarket historic district of downtown Kalamazoo.
When completed, the project will include 11 residential units on the upper floors, with upgrades to the building including an elevator and an enhanced façade at the rear of the property.
The first floor currently houses a longtime restaurant tenant and will also include space for a second restaurant.
The project is expected to generate a total capital investment of $3.5 million and create five jobs, resulting in a $420,000 Michigan Community Revitalization Program performance-based grant.
Officials say the project will transform an underutilized building into a vibrant, attractive property, bringing much-needed housing near several major employers.
The project is also expected to draw additional visitors to the downtown area and serve as a catalyst for additional economic activity.
The City of Kalamazoo Brownfield Redevelopment Authority has also received MSF approval of a brownfield work plan that will include $31,946 in state tax capture reimbursement for the remediation of brownfield conditions at the site.
“The Hall Block at 266 East Michigan is the last remaining large historic building with three stories of vacant space in the Haymarket historic district. We are excited that the Coney Island Hot Dog restaurant will remain in the west bay of the first floor, the oldest continuously operating restaurant in Kalamazoo,” Kalamazoo Sustainable Development Coordinator Jamie McCarthy said. “We are pleased to offer support through a collaboration between the Brownfield Redevelopment Authority, Kalamazoo Downtown Partnership, and Downtown Economic Growth Authority. We greatly appreciate this investment by the developer and the Michigan Strategic Fund which will contribute to making downtown an amazing place to live, work, and visit.”
The city is supporting the project with the approval of the local portion of the brownfield work plan, and the Downtown Economic Growth Authority is approving 20-year tax increment financing valued at $163,974.
The city of Kalamazoo is certified with MEDC’s Redevelopment Ready Communities program.
Comments