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WAREHOUSE/MANUFACTURING SPACE

This 100,000 sq. ft. building provides warehouse, manufacturing, and office space. There are shipping and receiving docks, single-phase and three-phase

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The Economic Development Corporation of Jackson County

The Economic Development Corporation of Jackson County (EDC) was incorporated in 1977. The EDC serves as Jackson County’s economic development agency. Their purpose is to bring quality jobs and new investment to the county and help existing businesses succeed.

The EDC manages two financial incentive programs; 1) The Revolving Loan Fund Program and 2) The Industrial Development Revenue Bond Program.

Revolving Loan Fund Program Information
Revolving Loan Fund Application with attachments

Industrial Development Revenue Bond Information

Recovery Zone Bond Information
Recovery Zone Economic Development Bonds are a new economic development tool for state and local units of government to finance municipal projects at lower borrowing costs to promote job creation and economic recovery in areas particularly affected by employment declines. Recovery Zone Facility Bonds are a new economic development tool for counties and large municipalities looking to provide tax incentives to lower the financing costs of private economic development projects in designated recovery zones. These programs are subject to volume cap limitations and expire January 1, 2011. The demand for volume cap allocation may exceed supply and the line may begin to form quickly in many counties and large municipalities. Counties and large municipalities will have to consider how to distribute the allocation in a manner which best serves their economic development goals.
Recovery Zone Bond Information

Recent Success Stories
Full Spectrum Solutions

View EDC Board Packets
July 22, 2009
December 10, 2009

Goals and Plan of Action for 2010

Purpose

Plan of Action 2010

Continue to create opportunities to utilize EDC’s financial tools for area businesses through retention/expansion Business Success Program call program and by supporting business attraction efforts through The EG.
Continue to meet with area professional organizations to collaborate on partnering with the EDC to assist their clients.
Maintain the EDA seeded Revolving Loan Fund.
Prepare and submit all required reports for the RLF.
Update the EDA Re-use plan, based upon the approved Economic Development Strategic Plan for Jackson County.
Provide oversight for inducement and issuance of tax-exempt Industrial Revenue Bond program as well as the Recovery Zone Bond program.
Continue to develop synergies through partnering with Jackson Area Manufacturer’s Association, Small Business and Technology Development Center and the Procurement Technical Assistance Center to help Jackson Area businesses diversify into “Targeted Industries” such as defense and homeland security.

Goals 2010

Call on 100-125 manufacturers to discuss tools;
Call on at least two professional organizations to discuss tools to assist businesses;
Make loans from RLF as funds allow;
Induce one Tax-Exempt IDRB totaling at least $7 million;
Utilize EDC tools to fill available land in Jackson County’s Renaissance Zones and Industrial Parks;
Develop marketing efforts to aggressively attract new businesses into Jackson County;
Improve EDC recognition and marketing through the EG website;
Improve community relations with community organizations; and
Support the Jackson Technology Park SmartZoneSM status for the community and potentially participate financially, if possible.

2009 End of Year Report

Based upon the 2009 Scope of Work for The Economic Development Corporation of Jackson County, the achieved objectives are described below:

Call on 100-125 manufacturers to discuss tools. a. By years end, The Enterprise Group staff, which includes the Economic Development Division (EDD), Jackson Small Business & Technology Development Center, Procurement Technical Assistance Center, and the Jackson Area Manufacturers Association, will have made almost 300 local retention visits, discussing all relevant tools. The EDD called upon over 103 companies. b. EG Staff schedules the calls, rather than the MEDC.
Call on at least two professional organizations to discuss tools to assist businesses. a. Met with Skip Simms of Ann Arbor SPARK to discuss financing and business development options for Jackson County businesses through SmartZone financing programs (4/09). b. Met with Michigan Manufacturing Technology Center (MMTC) on many occasions, and assisted in facilitating EG/MMTC/JAMA seminars for ISO Training and Diversification efforts (2009). c. EG and JAMA worked directly with Allegiance Health to sponsor a Medical Manufacturing Diversification event (4/09). d. Attended the Michigan Certified Development Corporation (MCDC) SBA 504 Training Event (2/09) e. Collaborated with JAMA in providing useful business tools and “callouts” for manufacturers to non-JAMA retention visit clients through a new email notification system – Business Contact Manager (2009). f. Developed and presented the Business Contact Manager system for The EG’s use, and also presented to and trained regional SCMW! staff on its use. g. Sponsored one of four statewide MEDC/MML Community Development Workshops at the County Tower Building (11/09). h. In additional to regularly-scheduled retention visits, attended all MEDC Diversification Program referral retention visits with Ed Reed, MEDC Business Development Manager.
Make loans from the Revolving Loan Fund (RLF) as funds allowed. a. Eight applications were distributed. b. The RLF for Full Spectrum Solutions closed in August 2009 for $200,000, assisting the company with purchasing new equipment. Full Spectrum built a new facility on a Brownfield site in the former Jackson Drop Forge Renaissance Zone in the City of Jackson. Full Spectrum Solutions will create an additional 13 new jobs as a result. The EDC has approximately $170,000 to loan but the eligible company must be within the City of Jackson. c. The EDC marketed the RLF Program at each applicable company visit. d. A Small Cities Revolving Loan Fund Grant was awarded to the County in the amount of $145,000 to assist funding the Jackson County Economic Development Strategic Plan, which will be presented to the Economic Development Strategic Planning Committee in early December 2009.
Induce two Tax-Exempt Industrial Revenue Bonds (IDRB) totaling at least $8.5 million. a. At the recommendation of The EDC, The Jackson County Commission designated Jackson County as a Recovery Zone, pursuant to the American Recovery and Reinvestment Act of 2009, in August 2009. The Recovery Zone Bond Project is a tool to finance both public and private projects. To date, The EDC has 12 inquires but no applications as of yet, although one is expected by the end of the year. The funds must be utilized by December 31, 2010. b. The EDC induced an Industrial Revenue Bond for Production Saw & Machine in January 2008, allowing them to qualify for a greater capital expenditure maximum via new legislation. The EDC will conduct the public approval process when the company finalizes their total capital investment. c. The EDC marketed the IDRB Program at each applicable company visit, and continues to market the program on The EG Web site.
Develop a strategy for EDC involvement with, and funding of Creative Industries projects. a. This initiative continues to develop, and we continue to work closely with the Jackson Area Manufacturer’s Association to utilize tools available through the EDC.
Utilize EDC tools to fill available land in Jackson County’s Renaissance Zones and Industrial Parks. a. The EDC continues to market the tools of the EDC to developers as well as other businesses involved in development locally. Information and links were provided to over 31 inquirers.
Develop marketing efforts to aggressively attract new business into Jackson County. a. EDC Staff aggressively marketed through The EG’s new website by making the Revolving Loan Fund application available online. b. EG Staff markets the EDC tools at each company visit, if warranted. The MEDC regularly includes Jackson in their RFP’s for State projects.
Improve EDC recognition and marketing through the new EG website. a. The EDC portion of The EG’s website (www.enterprisegroup.org) includes substantial EDC information and links to the RLF program, as well as to the Industrial Revenue Bond program. b. The website promotes the Jackson community and also serves as a strong and innovative economic development marketing tool for Jackson County. c. In August 2009, The EG launched the first EG Newsletter, which marketed The EDC’s programs. Over 482 individuals receive the newsletter via email and new recipients are added by providing sign-up sheets at events.
Improve community relations with community organizations. a. EG Staff has brought attraction efforts to the forefront of The EG’s goals.
Support SmartZone designation for the community and participate financially, if possible. a. The community was successful in receiving the SmartZone designation for Blackman Charter Township’s Jackson Technology Park, which is part of the Blackman Local Development Finance Authority. b. The Jackson Technology Park SmartZoneSM. infrastructure will be complete, with the exception of the utilities and pavement, in early 2010. The utilities and pavement will be completed when a prospect comes to fruition or a signed development/commitment letter has been received by a potential prospect.
Additional good news for 2009: a. The EDC received the final RLF payment for Allskate Fun Center in April 2009, finalizing a $85,000 loan. b. The EDC Loan Review Committee approved a Loan extension to Precise Test Lab, to mature March 1, 2011. Their loan was scheduled to mature in February 2009. c. The EDC Loan Review Committee approved a Loan extension to RTD Manufacturing, to mature August 1, 2012. Their loan was scheduled to mature in August 2009.