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SAGINAW FUTURE
DEVELOPMENT NEWS
SPRING 2016
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In the 1st quarter of 2016, Saginaw Future Inc. (SFI) directly assisted seven projects that resulted in nearly $1.9 million in new investment that are expected to create and retain 54 jobs. In addition, 10 regional companies won 87 government contracts valued at more than $6.5 million.
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Showboat Restaurant of Chesaning
has been operating in the Village of Chesaning since 1985 and was facing possible closure. SFI reached out to the realtor after learning of the closing and sent information regarding East Central Revolving Loan Fund financing, a public gap financing program. The new owners qualified for the program and it turned out to be an integral part of the total financing package needed to purchase the restaurant. The owners will retain the 34 existing employees who have on average 11 years of service each. This restaurant was not only a eatery but a community gathering place and the retention of it is a relief to the entire Chesaning area.
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Container Concept Solutions has purchased the building located at 2700 Perkins in the City of Saginaw. The property has sat vacant and blighted for many years. The company designs and converts shipping containers into mobile buildings such as disaster relief centers, medical stations, drive through coffee shops, sports complexes, and even homes. Container Concept will invest over $100,000 in renovating the facility and create five jobs as a result of the project. Saginaw Future worked with the City of Saginaw to have the building reassessed and assisted the company in filling an Obsolete Property Rehabilitation Act application.
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Delta College was awarded a grant in the amount of $726,024 by the Harvey Randall Wickes Foundation in Saginaw to support a new Diesel Technician Program, along with the diesel elements for the Agriculture Program. The grant includes the purchase of tools, equipment, training and faculty certification. SFI took the lead role in facilitating meetings with Delta, Great Lakes Bay Michigan Works! and trucking companies, which brought the need to the forefront. There will be a Fast Start program, along with an integrated full two year certificate, and both are expected to be operating by August/September of this year. The trucking companies have identified a hiring need of 20 diesel technicians by the end of 2016.
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Frankenmuth Farmers Market was awarded a $75,000 grant by Consumers Energy in support of its ongoing construction efforts. The Market grand opening is scheduled for May 14, 2016 and will feature a covered vendor pavilion with available space for up to 50 vendors. Additional amenities include a gathering barn for social activities and educational classes, a farm store and a kitchen incubator. SFI continues to assist the project and helped with the grant application.
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Hi-Tech Steel Treating, Inc. has recently acquired new technology including a new induction scanner, hardness testers and additional new and used equipment. The investment is expected to create greater efficiencies, attract new business and replace older equipment. SFI assisted with an abatement through the City of Saginaw and the State to support the project. The company expects that the technology will support the retention and creation of four jobs
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R&R Ready Mix, Inc. is making real property improvements with nearly $400,000 in roofing, metal siding and electrical upgrades. This will allow the company to pursue more precast concrete production opportunities and SFI is assisting the company and Zilwaukee Township through the process. The investment will retain an existing 20 employees and create five new jobs.
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Mahar Tool Supply Company
is nearing its 70th anniversary and with its workforce of 125, including 44 in the City of Saginaw, is expanding globally. The company is a distributor of cutting tools and specialty products, and provides high tech services including inventory control, tool management, cost analysis, engineering and staffing solutions. The company is adding $125,000 in new technology to increase efficiency and capacity, as well as support for its globalization efforts. SFI and the MEDC are assisting the company with the STEP program, Procurement Technical Assistance Center for government contracting and linking Mahar to future job training funds.
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Saginaw Future Fundraising Campaign 2017-2019
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(l-r) Fundraising Campaign Committee representatives: Patrick Curry - Fullerton Tool; Luis Canales - Nexteer Automotive; Bridget Sparrow, Co-Chair - Dow Corning; Herbert Spence III - Spence Brothers
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Saginaw Future Inc. recently launched its 2017-2019 Fundraising Campaign that was held at a
Saginaw County Chamber of Commerce Percolator Breakfast. Nearly 40% of Saginaw Future's funding sources come from the private sector and the tax deductible contributions have a significant Return on Investment for the entire community.
Every $1,000 donated generates more than $402,000 in new investment
Every $1,000 donated generates nearly 3 jobs
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Saginaw Celebrates Economic Development Week
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210 S. Main St., City of Frankenmuth - for lease or for sale! This is a beautiful two story building, total of 33,464 sq. ft. Executive office space and very well kept, modern and beautifully landscaped! The possibilities are endless for this location.
Click for more information.
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