New Economic Development Projects Approved
WHMI 93.5 Local News : New Economic Development Projects Approved WHMI
sdgtalks
March 26, 2024
Jessica Mathews / news@whmi.com
Governor Gretchen Whitmer joined the Michigan Economic Development Corporation today in announcing Michigan Strategic Fund approval of projects that will bring job growth and opportunity across both peninsulas.
The projects, expected to create at least 1,580 jobs and generate a total capital investment of over $650 million in Michigan, are said to underscore the state’s commitment to bringing home the supply chain and improving communities across the state.
In the Western Upper Peninsula, construction of the Copperwood Mine in Wakefield and Ironwood townships in Gogebic County will generate 380 jobs and mark a $425 million investment. The project comes from Copperwood Resources, a subsidiary of Highland Copper. When completed, the mine would “help supply copper material critical to the mobility and clean tech industries, bringing the supply chain home to Michigan”.
In Ada Township, Amway is increasing manufacturing and capacity through a renovation and expansion of existing facilities to create 260 new jobs and generate $127 million in investment.
Piston Automotive has been awarded a six-year contract with General Motors to assemble and supply component modules for a new electric pickup truck. The company plans to lease a newly constructed building at the former Palace site in Auburn Hills, which will be part of a long-term strategy to secure future business in the electric vehicle segment as the auto industry shifts toward electrification. That venture is expected to create 900 new jobs and mark an $85 million investment.
The MSF board also approved support for the redevelopment of a vacant parcel into a three-story hotel operated by Amway Hotel Corporation, remediating a brownfield site in the traditional downtown area of Rockford. The hotel will feature 54 guest rooms as well as restaurant and retail space, aimed toward improving tourism and hospitality in downtown Rockford. The total capital investment for the project is expected to be around $14 million, with work commencing in the spring of 2024 and completed by the summer of 2025. Upon completion, the project is expected to support approximately 40 new full-time jobs.
Complete details about the projects are available in the attached release.
SDGs, Targets, and Indicators
-
SDG 8: Decent Work and Economic Growth
- Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation
- Indicator: Number of jobs created
- Indicator: Total capital investment
-
SDG 9: Industry, Innovation, and Infrastructure
- Target 9.2: Promote inclusive and sustainable industrialization and foster innovation
- Indicator: Number of jobs created
- Indicator: Total capital investment
-
SDG 11: Sustainable Cities and Communities
- Target 11.4: Strengthen efforts to protect and safeguard the world’s cultural and natural heritage
- Indicator: Investment in tourism and hospitality infrastructure
- Indicator: Number of full-time jobs created
Analysis
The article discusses various economic development projects in Michigan that aim to create job growth and improve communities. Based on the content, the following SDGs, targets, and indicators can be identified:
1. SDG 8: Decent Work and Economic Growth
The projects mentioned in the article contribute to SDG 8 by creating job opportunities and generating capital investment. This aligns with Target 8.2, which aims to achieve higher levels of economic productivity through diversification, technological upgrading, and innovation. The article mentions the creation of at least 1,580 jobs and a total capital investment of over $650 million in Michigan.
2. SDG 9: Industry, Innovation, and Infrastructure
The economic development projects also align with SDG 9, which focuses on promoting inclusive and sustainable industrialization and fostering innovation. The projects mentioned in the article contribute to Target 9.2 by creating jobs and generating capital investment. The article mentions the creation of 1,580 jobs and a total capital investment of over $650 million in Michigan.
3. SDG 11: Sustainable Cities and Communities
One specific project mentioned in the article relates to SDG 11, which aims to create sustainable cities and communities. The redevelopment of a vacant parcel into a three-story hotel in Rockford contributes to Target 11.4, which focuses on strengthening efforts to protect and safeguard the world’s cultural and natural heritage. The project aims to improve tourism and hospitality in downtown Rockford, with an expected total capital investment of around $14 million and the creation of approximately 40 new full-time jobs.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation |
|
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.2: Promote inclusive and sustainable industrialization and foster innovation |
|
| SDG 11: Sustainable Cities and Communities | Target 11.4: Strengthen efforts to protect and safeguard the world’s cultural and natural heritage |
|
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: whmi.com
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