Brad Banfield, son of FEMA’s founder; John Pula, VP FEMA Component Manufacturing; Jeff Huffman, CEO; Steve Pride, President
FEMA Corp. Breaks Ground in Otsego, Invests $3.7M
FEMA Corporation, maker of innovative hydraulic systems, broke ground on their new facility in the City of Otsego this week. The company is investing $3.7M in a 40K sq. ft. facility that will house their precision machining division – FEMA Component Manufacturing. The expansion is expected to create 30 new jobs. Read more
GCxN Jolt Energy Storage Team
Jolt Energy Storage Wins $250k Grant for CleanTech
Jolt Energy Storage Technologies, a Holland-based sustainable energy-storage company, is one of three companies awarded a $250k grant from GCxN, an accelerator program through the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in partnership with Shell Global. Jolt was selected for its work in clean, grid-scale energy storage solutions. Read more
A Better Alternative to Layoffs: The Michigan Unemployment Insurance Agency Work Share program allows employers to keep employees working with reduced hours, while employees collect partial unemployment benefits to make up a portion of the lost wages. Employers can retain trained employees, restart their business and bring back employees from unemployment while having the flexibility to choose which of their employees are part of a Work Share unit. It can be a win/win for the business and employees.
Michigan's State Trade Expansion Program (MI-STEP) empowers Michigan small businesses to export their products. MI-STEP annual reimbursement limits for select budget categories were recently raised. Additionally, website localization costs are now eligible for up to 75% reimbursement, up from 50%, now through September 30, 2020. For all other budget categories, reimbursement is up to 50% of actual costs incurred by the company.
International Website Development annual reimbursement limit was raised from $3k to $6k.
Shipping of Sample Products annual reimbursement limit was raised from $2k to $4k.
Design of Marketing Materials (brochures, branded giveaways, social media, advertising, etc.) was raised from $3k to $6k – note: printing is still not eligible for MI-STEP reimbursement.
Qualified companies can receive up to $15k per fiscal year through this program. Learn more about the program by contacting a Michigan Economic Development Corporation International Trade Manager today.
Lakeshore Advantage investor support positively impacts the region's economic health. Contact Beth Blanton at beth.blanton@lakeshoreadvantage.com to learn more.
Business Resources on Our Website
Lakeshore Advantage has business resources on our website related to COVID-19 and Returning to Work, including:
See our YouTube channel for past webinars, including the webinar from today with health systems CEOs and local business leaders on testing and what to expect as employees return to work.
This news and events update was sent to you as a service of Lakeshore Advantage. We send communications on a regular basis to keep you up-to-date on information that may be helpful to you as a West Michigan primary employer. Please direct questions, comments and future submissions to Emily Staley at emily.staley@lakeshoreadvantage.com.
