In a joint announcement with the Michigan Economic Development Corporation (MEDC), and EcoMotors, Governor Jennifer Granholm heralded EcoMotors and their plans to begin development of the next generation of diesel engines. Highlights from the press release are included below and the full text is available at the official state of Michigan website.

May 20, 2008 LANSING
Governor Jennifer M. Granholm today announced that the Michigan Economic Development Corporation (MEDC) is helping five companies grow in Troy, Rochester Hills, Bay City, Canton and Greenville. In addition, the MEDC and Michigan State Housing Development Authority (MSHDA) are backing five redevelopment projects in Troy, Detroit, Grand Rapids and Lansing. Combined, the projects are expected to create 2,051 new jobs and generate $417 million in new investment in the state.

"These investments are great news for communities and job-seekers throughout our state, and we will continue to go anywhere and do anything to bring new jobs here," Granholm said. "Companies are choosing to invest in Michigan because of our competitive business climate, outstanding workforce, and our unmatched quality of life."

EcoMotors International Inc.

The developer of next generation diesel engines plans to launch a new, $7-million technical center in Troy. The project is expected to create 156 jobs at the company and an additional 183 spin-off jobs. Based on the MEDC's recommendation, the Michigan Economic Growth Authority today approved a state tax credit valued at $5.1 million over 10 years to win the project over a competing site in California. The city of Troy is considering an abatement of up to 12 years to support the expansion. The company currently employs seven associates in Troy.

... "All of these projects are the result of successful state and local collaboration and teamwork with our economic development partners around the state to bring these projects to Michigan against some very stiff competition," MEDC President and CEO James C. Epolito said.

In her 2008 State of the State address, Granholm emphasized the importance of creating opportunity in the changing world of the 21st century. Since January 2005, the governor and the MEDC have announced the creation or retention of more than 237,000 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. CHeck out the Michigan Economic Development Corporation website for more information on their initiatives and programs.