Lansing's economy is about to get a pick-me-up with a new grant bringing businesses and more jobs to the area.
The company is Loc Performance Products. They will receive a $7 million dollar grant from the Michigan Strategic Fund and plan to invest almost $100 million into the area. They say the grant will help them create hundreds of new jobs, something that everyone involved is excited about.
"I'm feeling pretty good, we've got a lot of work to do," Loc Performance Products CEO Lou Burr said.
The company is based out of Plymouth. Last year the company bought the Lansing based Demmer Plant, which it plans to upgrade and expand with the help of the grant. Jeff Mason of the Michigan Economic Development Corporation says he is excited about the future with the new investment.
"I think this is significant...I mean 700 jobs between both Lansing and Plymouth is a large investment here in the state of Michigan. So this is huge for the region when it comes to creating quality jobs for the citizens here in Lansing," Mason said.
Loc Performance Products is a full-service provider of complex mechanical systems, fabricated structures, and armor products for defense and commercial industries. And the company says it has no plans on slowing down.
"I think it will be significant if we add 400-500 jobs over the next few years and we don't intend on stopping there. We really have a long-term plan to be a prime integrator for vehicles in the army...if we get there its potentially thousands of jobs within the area," Burr said.
The company also says they are working with colleges and even high schools for an apprentice program to get people ready to get to work, which helped sway the MEDC's decision to give them the grant.
"They're not only employing the people, but they are training them and educating them on the process to actually produce these high tech machines and products," Mason said.
This is one of the largest grants given out by the MEDC. Loc Performance Products plans to fill the jobs over the next three to five years, and employees can expect to earn up to $25 an hour.
The grant is performance-based, meaning Loc will receive the money when they reach certain economic milestones.