LANSING -- The Michigan Economic Development Corp. Wednesday announced approval of a $300,000 Michigan Business Development Program incentive for Getman Corporation to expand its operations in Kalamazoo County's Comstock Charter Township, a project that will generate up to $5.5 million in new private investment and add 150 new jobs.
Getman Corp., a third generation manufacturer of custom mobile equipment for mining, has more than 50 years of experience in serving the industry. The company has outgrown its existing plant and plans to open a second in the Charter Township of Comstock.
The company plans to invest at least $5.5 million and create 150 manufacturing jobs related to the underground mining industry. As a result of this expansion, Getman is being awarded a $300,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Indiana.
"Expanding our workforce and facilities is critical to meeting the growing demand for our product as we strive to become the globally preferred partner in our class of equipment," said Erik VanAllen, president and CEO of Getman. "We are proud to be part of the Southwest Michigan community and look forward to laying a foundation for growth in Comstock Township."
Comstock Township is also offering a six-year tax abatement to the project valued at $84,928.
The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
The MSF will consider a number of factors in making these awards, including: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.
The MEDC markets the state with a focus on business, talent, jobs and helping to grow the economy. For more on MEDC and its initiatives, visit www.MichiganAdvantage.org.
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