Lansing Economic Development Gets One More GM Boost With $175M Investment and 500 Jobs

Lansing, MI is once again a beneficiary of the ongoing series of investment announcements by General Motors.

GM Lansing Camaro investment

GM Lansing Camaro investment (press photo – © General Motors)

GM announced a $175 million investment for new tooling and equipment to produce the sixth-generation Chevrolet Camaro at the Lansing Grand River Plant.

This follows an announcement less than a month ago of a $520 million investment at its Lansing Delta Township assembly plant that will help retain 1,900 jobs.

All told, GM already has some 3,500 at the Lansing Delta Township assembly plant, another 1,500 at the Lansing Grand River Plant, and 300 at the Lansing stamping facility. This has a considerable economic impact on the Lansing regional economy, including $394.8 million in wages and $75.3 million in payroll taxes.

The good news for Lansing economic development this time is that this latest $175 million investment announcement at the LGR plant also includes 500 jobs that are coming back to Lansing. GM plans to resume a second shift which had been cut earlier to facilitate reduction in production of Cadillac models.

Lansing Mayor Virg Bernero said in a release announcing GM’s investment and the 500 jobs that “I may be the luckiest mayor in America today.”

Mayor Bernero added that gearing up for full-scale production of the legendary Chevy Camaro is a new high point in the more than two decades of extraordinary partnership between the City, GM and the UAW.

It is indeed noteworthy because the Camaro, America’s best-selling performance car in the last five years, hasn’t been made in the U.S. since the 1990s. GM announced in 2012 that it was moving assembly of the next-generation Chevrolet Camaro from the Oshawa Assembly plant in Ontario, Canada to the LGR plant in Lansing.

Last month, GM said it was cutting 1,000 jobs at the Oshawa Assembly plant. At the same time, GM kicked its $5.4 billion investment plan for its U.S. plants. The investment announcements made by GM in less than a month are as follows:

- $783.5 million investment at Michigan facilities in Warren, Pontiac and Lansing;

- $1 billion investment plan for the Warren Technical Center in Warren, MI;

- $439 million investment at the Bowling Green Corvette Assembly Plant in Bowling Green, KY; and

- $1.1 billion investment for full-size pickup trucks at the Fort Wayne Assembly plant in Fort Wayne, IN

This latest $175 million investment in the LGR plant in Lansing includes facility improvements such as robotic framers, and Camaro-specific upgrades such as new paint systems.

These announcements over the last four weeks account for nearly $2.8 billion in investments at GM operations in Michigan, Kentucky and Indiana.

The LGR plant, which opened in 2001, is one of GM’s newest plants in North America, and is home to the Cadillac CTS, the all-new Cadillac ATS, and now the Chevy Camaro.

GM North American Manufacturing Manager Scott Whybrew said in the release that with this investment in tooling and equipment, they will continue to do their part to build on the high-quality reputation of this iconic car.

Michigan House Committee Hearing on Bills to Divert Economic Development Funding for Roads

A new Michigan House Committee on Roads and Economic Development is scheduled to hold a hearing and hear testimony on some high-profile bills that are opposed by economic development and business groups in the state.

Pure Michigan

Pure Michigan (photo – PunkToad/flickr)

The bills (HB 4607 and HB 4608) seek to divert $135 million in funding that is currently allocated to the 21st Century Jobs Fund and the Michigan Economic Development Corporation.

The MI House Committee on Roads and Economic Development was created earlier this month as part of an effort to assist a 12-bill road funding plan introduced by Speaker of the House Kevin Cotter.

At that time, Speaker Cotter said in a release that “Finding a long-term plan for Michigan’s crumbling roads is one of our top priorities, and it is time the committee makeup of the Legislature reflected that.”

Speaker Cotter added that creating this committee allows them to come together and work quickly on a solution that fixes roads, sets the stage for continued economic growth and gets Michigan moving again.

But the two aforementioned bills divert funding from vitally important economic development programs like the Jobs for Michigan Investment Fund, brownfield and historic preservation tax credits, business accelerators, incubators, and the Pure Michigan campaign, whose funding would be entirely eliminated.

HB 4607, sponsored by State Rep. Phil Pettalia, would amend the Michigan Trust Fund Act to allocate $75 million from tobacco settlement revenue to the Michigan Transportation Fund. Since FY 2011-12, this $75 million has been typically distributed among three programs, as detailed below:

- Business Attraction and Community Revitalization (FY 2014-15 appropriation – $28.8 million);

- Entrepreneurship Eco-System (FY 2014-15 appropriation – $17.2 million); and

- Pure Michigan (FY 2014-15 appropriation – $29.0 million);

Note that this doesn’t necessarily mean that Michigan will have to eliminate these programs. But the MEDC and other organizations that run these programs may have to find other means of funding to pay for it.

HB 4608, sponsored by State Rep. Lee Chatfield, would amend the Michigan Strategic Fund Act to divert $60 million, mainly from Indian Gaming revenues, into the Michigan Transportation Fund.

These revenues currently flow directly from the casinos to the MEDC under various Gaming Compacts. The casino revenues are the source for the Jobs for Michigan Investment Fund, and it’s not subject to the legislative appropriations process.

Steve Arwood, director of the new Michigan Department of Talent and Economic Development, which houses both the MEDC and the Pure Michigan campaign, is one of those who will be providing testimony at the House Committee on Roads and Economic Development hearing.

GM Announces $1B Investment in Warren Technical Center Campus

General Motors announced plans to invest $1 billion for a multi-year construction, expansion and modernization project at its Warren Technical Center campus in Warren, MI.

GM Warren Tech Center

GM Warren Tech Center (press photo – ©General Motors)

The project, which includes new construction on the campus, along with renovations of existing buildings and expansions of some operations, will create 2,600 new salaried GM jobs at the Warren Technical Center.

The GM Tech Center in Warren, a National Historic Landmark listed on the National Register of Historic Places, is already home to more than 19,000 employees.

It opened in 1956 as the culmination of one of the most outstanding architectural and business consolidation projects of its era, enabling the company to bring its vehicle engineering operations at 14 locations in Southeast Michigan into a single campus.

GM now plans to add new design studios, rebuild and renovate R&D facilities, add a new multi-story IT building next to its recently opened IT Innovation Center, and add new testing areas at the Advanced Energy Center. The project, which will continue through to 2018, will also include construction of new parking decks and extensive office upgrades in most of its operations in the Warren Tech Center.

Mark Reuss, GM executive vice president, Global Product Development and Purchasing and Supply Chain, said in a release announcing the investment that they plan to transform the campus into a collaborative workplace of choice for their current team and future talent.

This $1 billion expansion plan is in addition to the $139.5 million investment that GM announced a couple of week ago for body shop and stamping facility upgrades of its Warren pre-production operations.

State and local officials touted GM’s huge investment plans in Warren as great news which has already led to other Warren economic development projects.

Governor Rick Snyder said in the release that this is great news for Warren, the region and the state. The Governor said it soundly demonstrates GM’s commitment to Michigan and the state’s talented workforce, providing key jobs and career opportunities for today and tomorrow.

Warren Mayor Jim Fouts said he is very excited about GM’s investment in the Tech Center, which he said has already resulted in proposals for new investments in Warren’s downtown, which is located directly across the street from the Tech Center.

The Warren City Council is authorizing economic development incentives for the proposed GM expansion in the form of a 50 percent real and personal property tax abatement for 12 years, and two additional years for the construction.

Detroit, Michigan Economic Development Partnership Turns Vacant School Into Manufacturing Campus

Sakthi Automotive, a global supplier of safety critical automotive components, announced plans to purchase and redevelop Southwestern High School in Detroit, MI. The vacant school will serve as the center of a new manufacturing campus and a training center for 650 employees.

Detroit Sakthi campus

Detroit Sakthi campus (photo -detroitmi.gov)

Supported by Detroit Public Schools, City of Detroit economic development tax incentives, and Michigan Strategic Fund approval of state incentives, the company is investing $31 million into the facility to ramp up its production of lightweight aluminum castings.

The expansion will enable the company to reshore jobs producing auto components made of lightweight metal to the Sakthi campus in Detroit. These components are currently being produced by the company in China.

Detroit Mayor Mike Duggan said in a release announcing the project that Sakthi is making a major commitment to Detroit and is creating employment opportunities for residents that otherwise would have remained overseas.

Sakthi Group Chairman Dr. Manickam Mahalingam said in the release that they are very confident in the future of Detroit and that is why they are making a significant investment to provide opportunity for Detroit residents.

Sakthi’s expansion plans build on earlier efforts by the Michigan Economic Development Corporation and the Detroit Economic Growth Corporation that led to the Sakthi Group selecting Detroit in 2012 as the location to establish its North American presence with an $18.6 million investment and commit to creating up to 183 jobs.

Sakthi Automotive Chief Executive Officer Lalit Verma added that the Detroit expansion is a key strategic decision by Sakthi as Detroit remains the world’s largest automotive hub. Verma added that Detroit is their global technical headquarters to support all of their overseas business units in India, China, Europe and other locations.

Detroit and Michigan competed for this new expansion project with other sites that were also under consideration in South Carolina, Ohio and Georgia. Last month, the MEDC announced MSF approval of a $3.5 million performance-based grant through the Michigan Business Development Program for the Sakthi Automotive Group USA, Inc. expansion in Detroit.

The City of Detroit has offered the company a property tax abatement, and is recommending the project for approval of an MSF-designated Renaissance Zone.

The 70-acre Sakthi Manufacturing Campus will cover approximately 1.2 million square feet across four distinct facilities. Apart from the Southwestern High School property and its original existing facility on Fort Street, Sakthi has also entered into agreements to purchase the old GM Fisher Body plant and the former American Mailers on either side of its Fort Street facility.

All of this will add up into a campus with about 650 jobs. This includes the 170 existing jobs at the Fort Street facility, and 150 new jobs for an expansion already underway in the American Mailers facility.

The redevelopment of Southwestern High School and its addition to the company’s operations will enable the creation of another 220 new jobs. The former GM building, which is to be converted into an advanced manufacturing and distribution center, will create another 100 new jobs.

Mayor Duggan added that this project is a prime example of how cooperation between the State, the City, Detroit Public Schools and the private sector can help create jobs and preserve the city’s heritage.

The redevelopment plan will preserve the original historic structure of the Southwestern High School facing Fort Street, as well as the school’s gymnasium which produced NBA stars like Howard Eisley, Jalen Rose and Voshon Lenard.

Southwestern High School was first built in 1921, and closed its doors in 2012 due to budget cuts. DPS has since then been trying to find a buyer for the property that will preserve the heritage aspect of the site. DPS Emergency Manager Darnell Earley said the Sakthi project represents the kind of collaborative efforts between the public and the private sectors that will continue to steer Detroit towards a sustainable recovery.


Louisiana, Michigan Shine in Top Competitive States Ranking

North Carolina replaced Georgia as the top state in Site Selection’s ranking of most competitive states for 2014, and Louisiana was placed second. But the surprise in the rankings came from the Midwest, with Michigan, Indiana and Ohio all listed in the top 10.

Louisiana flag

Louisiana flag (photo – Dave Johnston/wikipedia)

The rankings are based on each state’s performance in terms of attracting new business facilities and expansions. Projects taken into consideration are those involving at least $1 million in capital investment, creation of at least 20 new jobs, or new construction of at least 20,000 square feet.

North Carolina topped the list with 409 points, while Georgia went from the top to the bottom of the list in tenth place. Louisiana was followed by Texas in third place, South Carolina in fourth place and Tennessee rounding out the top five.

Louisiana Governor Bobby Jindal said in a release that they have made economic development a top priority from day one of his administration. “This accolade from Site Selection magazine reaffirms the great progress we have made in improving Louisiana’s economic competitiveness,” said Gov. Jindal.

In the last seven years, Louisiana Economic Development has secured projects that are creating more than 91,000 new jobs and generating over $62 billion in new capital investment.

LED Secretary Stephen Moret noted that this impressive ranking is a tribute to the professional, diligent efforts of LED’s outstanding staff. He also credited the administration’s strong emphasis on economic development, and also the strong partnerships with regional and local economic development groups, ports and utilities across the state.

The remaining four places on Site Selection’s list of top competitive states were occupied by Kentucky, Michigan, Indiana and Ohio.

Michigan Economic Development CEO Steve Arwood said in a release that this good news signals to the world that Michigan again stands among the nation’s best places for new business investment.

Arwood added that site location executives and consultants play a vital role in major corporate expansion decisions, and this is fresh news that adds to the many advantages that make Michigan attractive.

Since 2010, Michigan has significantly improved its credit rating and added 400,000 new private sector jobs, which puts the state’s economic rebound behind only North Dakota’s oil-fueled boom. This latest Site Selection ranking puts Michigan ahead of regional competitors including Indiana, Ohio, Illinois and Wisconsin, and also ahead of 39 other U.S. states.

GM to Invest $5.4B in US Plants

General Motors announced plans to invest a total of $5.4 billion for U.S. plant improvements over the next three years.

GM investments

GM investments (photo courtesy GM News)

GM outlined plans for investing $783.5 million at Michigan facilities in Warren, Pontiac and Lansing.

The company is still working on identifying plants for the remaining $4.6 billion investment over the next several months.

For example, GM is considering a $1.2 billion expansion of its Arlington, TX assembly plant, and also a nearly $420 million expansion of its Warren Tech Center campus in Warren, MI.

For the moment, GM announced a $139.5 million investment at its Pre-Production Operations in Warren for establishing a new body shop and upgrades for a stamping facility.

GM also announced plans to invest $520 million at its Lansing Delta Township assembly plant for tooling and equipment for future new vehicle programs. This particular investment will help retain 1,900 jobs.

Another $124 million investment at the Pontiac Metal Center in Pontiac, MI will enable major body panel dies to be pre-tested in Pontiac in a normal production environment, which will in turn allow stamping plants to produce higher quality parts much faster.

GM North America Manufacturing Vice President Cathy Clegg said in a release announcing GM’s plans that the common thread among these investments is the focus on product improvements that benefit customers. Clegg added that together with their UAW partners, they’re working hard to exceed consumers’ ever-increasing quality expectations.

UAW Vice President Cindy Estrada, who leads UAW’s GM Department, said in the release that by working together, the UAW and GM are making a difference in communities across the United States. Estrada added that these investments represent the power of their collaboration to create jobs and improve competitiveness, quality and the U.S. manufacturing base.

Governor Rick Snyder said in the release that Michigan’s automotive heritage and expertise is known around the globe, and GM and its workforce are a major part of that. The Governor added that they’re going to continue to ensure the best environment for GM, the auto industry and all other industries to grow and thrive, creating more and better jobs.

The $5.4 billion that GM is investing translates into $150 million every month for the next three years. GM’s investments in its U.S. operations adds up to approximately $16.8 billion since June 2009. Out of this, some $11.4 billion in investment announcements have been made after the UAW-GM national agreement was reached in 2011.

All told, these investments have helped GM create 3,650 new jobs and retain another 20,700 or so other jobs.

Detroit, Michigan Economic Development Incentives Support Historic Building Renovation and Reuse

Two business expansions and one community revitalization project in Michigan that will generate a combined total of nearly $39 million in private and create 151 jobs have received approval for state assistance.

Michigan communities

Michigan communities (photo – Michigan Municipal League/flickr)

The Michigan Economic Development Corporation announced Michigan Strategic Fund approval of a $413,000 performance-based community revitalization grant for the renovation of a historic vacant building in Downtown Detroit’s Paradise Valley.

After a $3.1 million investment and renovation, the structure will house the headquarters of Illinois-based Real Times, Inc., along with restaurant and office space. This project is expected to create 35 jobs.

In addition to the $413,000 community revitalization grant, the project is also getting a sizable package of Detroit economic development incentives. This includes a $900,000 CDBG forgivable loan from the City of Detroit, another $200,000 acquisition loan from the Detroit Economic Growth Corporation, and a 12-year property tax abatement valued at $42,000 per year.

One of the business expansion projects approved to receive a state grant is Emhart Teknologies, LLC (now STANLEY Engineered Fastening), a wholly-owned subsidiary of Stanley Black & Decker.

As part of this expansion, Emhart Teknologies will construct a 30,000-square-foot addition to its manufacturing operations in Chesterfield Township, MI and convert the existing space it has into a manufacturing facility. The company is additionally leasing more space in Troy, MI to accommodate and grow its office operations.

All told, the company is investing more than $32.8 million and plans to create 83 jobs. Apart from the Chesterfield site, Emhart Teknologies also looked at sites outside the state for this project.

The company is getting a package of Michigan and Chesterfield Township economic development incentives. This includes a $350,000 Michigan Business Development (MBD) performance-based grant that has received MSF approval. Chesterfield Township is additionally supporting the project through a property tax abatement.

U.S. Representative Candice Miller, who represents Michigan’s 10th district, issued a statement applauding the approval of the state grant for the project. Miller said that this performance-based grant is “a worthwhile investment in Southeast Michigan’s continued economic resurgence and highlights the importance of supporting the manufacturing industry that is so critical to Michigan’s economic success.”

The other business expansion getting a $250,000 MBD grant is custom software design and development firm Atomic Object, LLC. The company is moving its headquarters into a functionally obsolete building in Grand Rapids that will be renovated to meet their requirements.

Atomic Object is additionally leasing more space in Detroit and will be doubling its Ann Arbor location. All told, the company is investing more than $2.9 million and creating 33 jobs.

Michigan Economic Development Corporation CEO Steve Arwood said in a release announcing the grant awards that these projects will help strengthen Michigan communities and help growing companies generate new job opportunities.

Warren, Michigan Approves Economic Development Incentives for GM Tech Center Expansion

The City Council of Warren, MI has approved a resolution authorizing the City to offer tax exemptions for an expansion project by General Motors at its Warren Tech Center campus.

GM Warren Tech Center, Michigan

GM Warren Tech Center, Michigan (photo – Local hero/wikimedia)

The Warren economic development tax incentives for the General Motors, LLC, Technical Center will enable the company to go ahead with a planned investment of $419,437,940.

GM;s expansion plan includes construction of new buildings, parking decks and additions, along with the renovation of various buildings to modernize the campus and make it more competitive and collaborative.

The expansion will enable GM to create 2,600 new jobs at the Warren Tech Center by the time the project is completed, and also supports the retention of 3,860 jobs.

GM wants to get started immediately on this project, and had therefore applied for the approval of three Industrial Facilities Tax Exemption (IFTE) certificates, requesting that the Warren City Council approve them before the company began work on the project.

At a special meeting held after a public hearing on the project, the City Council approved the resolution, offering GM a 12-year, 50 percent real and personal property tax abatement, with two additional years for construction.

GM is not at the moment seeking additional state incentives for this project. Last year in June, the Michigan Economic Development Corp. announced Michigan Strategic Fund approval of an increase in the maximum allowance for retained GM jobs from 33,000 to 34,750.

This was after the company announced plans to create 1,750 new jobs in Michigan through consolidation from out-of-state facilities. Before that in Oct 2012, GM announced plans to locate one of its four global IT Innovation Centers at the Warren Tech Center, bringing another 1,500 jobs to Warren and Michigan.

The GM Warren Tech Center is a National Historic Landmark that was completed in 1955 and first opened in 1956. It was conceived by then GM Board of Directors Chairman Alfred P. Sloan, and designed by architect Eero Saarinen to consolidate GM’s vast spread of research, design and engineering facilities.

The result was one of the largest architectural projects undertaken in the U.S., with a $1 billion investment in the Tech Center, where 31 buildings were constructed on a 680-acre site in phases between 1949 and 1985. The establishment of the Warren Tech Center consolidated vehicle engineering functions from 14 different GM locations across Southeast Michigan. The campus can accommodate a workforce of more than 20,000 people.

Detroit Seeks Economic and Community Development Benefits in Brewster Wheeler Restoration

Eight months after Detroit’s historic Brewster Wheeler Recreation Center was scheduled to be demolished, Mayor Mike Duggan stood in front of it with boxing legend Joe Louis, Jr. to announce a $50 million restoration and redevelopment plan.

Brewster Wheeler Recreation Center in Detroit, MI

Brewster Wheeler Recreation Center in Detroit, MI (photo – Dave Hogg/flickr)

Not only will the project save the building, but will also include Detroit economic development plans to restore the historic neighborhood with 100-150 housing units, a restaurant and other commercial spaces supporting at least 500 new jobs.

Not to mention a kitchen incubator, a culinary arts training program focused on at-risk young women, space to house a bike-friendly non-profit organization, and community and meeting space.

The iconic building will retain its rich heritage with a new restaurant built on top, so that people have the chance to dine in Joe Louis’ former training facility atop what was at one time the Harlem Globetrotters’ basketball court floor.

A bar in another section of the building will likewise honor Leon Wheeler, who became Detroit’s first African American recreation worker in 1919 and managed the Central Community Center (now the Brewster Wheeler Recreation Center) from the time it opened in 1929 until he retired in 1945.

A team of developers, all with deep roots in Detroit, will be working on separate aspects of the project.

Union Joints, LLC is undertaking the restoration of the 51,780-square-foot building and addition of the new restaurant and bar. Apart from the restaurant, they will also establish a kitchen incubator, catering space, culinary arts studio, and community and meeting space within the Recreation Center.

This $10 million project is expected to create 300 new jobs, which will include 120 new full-time jobs. Keeping in mind the historic nature of the building, the project is also expected to provide more Detroit economic development benefits than the usual construction or redevelopment projects.

Under the terms of the agreement, Union Joints LLC is required to ensure that a major part of the benefits from the project go to Detroiters and Detroit-based firms. This includes at least 30 percent of the construction cost to Detroit-based contractors, and hiring of Detroit businesses for at least 51 percent of the construction and rehab of the restaurant parcel.

At least 40 percent of the restaurant jobs must initially be filled with Detroiters, and the number must increase to 70 percent within four years. Members of non-profit Alternatives for Girls, which supports at-risk young women, will be given priority to join the culinary arts training program, which will give them a chance to gain employment at the restaurant after they complete their training.

The agreement also provides space in the building for housing the new headquarters of non-profit organization Slow Roll, Inc. Slow Roll provides bicycles to people for bike tours of Detroit.

Develoopers RHEAL Capital Management and Schostak Brothers are investing $37 million to develop the southern part of the property into a mixed-use project that will include 100-150 multi-family housing units and new commercial space.

This project is expected to create more than 200 new permanent jobs, at least 35 percent of which will be filled by Detroiters. At least 51 percent of the construction jobs will likewise go to Detroiters, and 30 percent of the cost of construction will go to Detroit-based contractors.

Mayor Duggan said in a release announcing the project that every opportunity they have, they plan to preserve buildings like the Brewster Wheeler Recreation Center that have a deep personal history in the city, and do it in a way that provides real benefits to Detroit residents.

Wayne County, MI Approves Brownfield Cleanup Plan for Gibraltar Steel Plant

Ferragon Corp’s proposed $53 million steel plant project in the City of Gibraltar, MI passed a major hurdle with the Wayne County Commission approving a Brownfield cleanup plan for the site.

Wayne County, MI brownfield plan

Photo – waynecounty.com

Ferrous CAL Co., a subsidiary of Cleveland, OH-based Ferragon Corp, has already purchased the 42.34 acre former McLouth Steel plant site in Gibraltar, and intends to produce steel for automotive companies.

The company is planning to invest more than $53 million on the project, and expects to create at least 100 jobs at the facility. There are already 15 existing employees who still take care of the site, and Ferrous CAL Co intends to hire them too.

The investment includes a significant amount that will be spent on environmental activities, asbestos and hazardous materials removal and interior demolition.

The plant location close to the Detroit River International Wildlife Refuge, the Detroit River, marshes and other wetlands makes environmental issues especially sensitive. The Frank and Poet Drain flows onto the property.

There have already been major cleanups in the area, including at the federally owned refuge, that have been undertaken jointly by the government and industry.

The site in question was operated as a steel plant by McLouth Steel from 1954-75. In 1995, the mill occupants went into bankruptcy and operations were entirely terminated. The mill remained vacant until 2000 when Detroit Cold Rolling began operations.They operated the mill for three years until 2003, at which time the mill operations were once again halted.

The site has been unused and mostly vacant since then, and a subsurface investigation in May 2006 found the soil and groundwater to be contaminated.

The Wayne County Economic Development Department has been working with Ferrous CAL on the project and cleanup plan. The brownfield plan has already been approved by the Gibraltar City Council, Wayne County Brownfield Redevelopment Authority, and the Wayne County Commission’s Committee on Economic Development.

Wayne County Commissioner Joseph Palamar said in a release announcing their approval of the Brownfield plan that this is a terrific reuse of an inactive steel plant, and the jobs are most certainly welcome.

Brownfield plans provide economic development incentives specifically targeting projects that require cleanup of contaminated properties and subsequent reuse to promote economic growth.

In this case, full approval by the Wayne County Commission enables Ferrous CAL to be eligible for Tax Increment Financing (TIF) reimbursement of $9,902,502 in environmental cleanup costs on the site, the 600,000-square-foot industrial building and other structures on the site. This figure includes $509,165 for site preparation and infrastructure improvement activities.

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