Governor Gretchen Whitmer announced two economic development projects on the west side of Michigan, furthering the region’s continued growth and prosperity.
In Newaygo County, a community revitalization project will redevelop an existing structure into a dynamic, mixed-use building, while Muskegon County will welcome a supplier’s new U.S. headquarters following the company’s consolidation of sites in Ohio and Michigan. In total, these two projects represent $33.7 million in capital investment and the creation of 20 new jobs.
“Today’s investments in Newaygo and Muskegon counties will create good-paying jobs, support local business, and build new housing units, continuing our economic momentum,” said Governor Whitmer. “These $33.7 million of business expansion and community revitalization projects deliver on our vision to help anyone ‘make it’ in Michigan. Together, we will keep uplifting places, fighting for people, and winning projects so we can lead the future of advanced manufacturing and make our cities and small towns better places to live, work, and invest. Let’s keep getting it done.”
“Team Michigan is excited to announce both M. Argueso & Co’s new headquarters and the community revitalization efforts of Slate Property Co. in Western Michigan,” said MEDC Senior Vice President of Regional Development Matt McCauley. “We applaud these organizations for recognizing that Michigan is truly the ideal place for businesses to grow and communities to thrive.”
M. Argueso & Co., Inc., a supplier of wax blends and adhesives, is expanding in the city of Norton Shores. The company is German-owned and currently employs 95 Michigan residents.
M. Argueso & Co., Inc. services customers in various industries and is experiencing continued growth. The company plans to consolidate its Ohio and Michigan operations and establish its U.S. headquarters in Norton Shores, where it will renovate an existing facility and add manufacturing equipment and operations.
The project is expected to generate a total capital investment of $33 million and create up to 20 jobs with the support of a $160,000 Michigan Business Development Program performance-based grant. The company chose Michigan for the project over competing sites in Illinois, Kentucky, and Ohio due to the talent, partnerships, and resources it has here.
M. Argueso & Co., Inc. puts a strong focus on retaining and upskilling its employees and promotes from within whenever possible. It also utilizes Michigan Works! to reach local talent.
“Paramelt’s decision to expand their operations in Muskegon is a is a major win for Muskegon’s economy,” said state Representative Will Snyder (D-Muskegon). “Investing $33 million in our community and bringing 20 new good-paying jobs to our hardworking residents — that’s the kind of economic growth that makes a real difference in people’s lives. It’s another powerful testament to the incredible revitalization happening across the greater Muskegon area. The future looks bright for our communities.”
The project will bring good-paying manufacturing jobs with a growing company and will help solidify the company’s presence and future business in the state. The city of Norton Shores has offered a 50-percent property tax abatement in support of the project.
Slate Property Co LLC is planning to redevelop an existing two-story commercial property in downtown Hesperia, Newaygo County, that will result in a 3,572-square-foot, mixed-use building. The first-floor tenant with be Bob’s Drugs Pharmacy, a family-owned business that has been serving the community for generations, and three residential housing units on the second floor.
“This project will truly change the look and feel of our small downtown,” said Mike Farber, Hesperia Village President. “As the project begins, we are hopeful it will encourage other businesses to apply for help through the programs that are available.”
The redevelopment of the property will lead to nearly $700,000 of capital investment in downtown Hesperia, with the support of the Michigan Strategic Fund through a Build MI Community Grant Initiative award in the amount of $227,705. This project will not only support housing and commercial development, but the long-time tenant, Bob’s Drugs, which is crucial to this small community. As one of the only family-owned pharmacies left in West Michigan, the development will create a lasting positive impact on this business and the community, providing much-needed housing options and a renewed sense of place in the community.
“The Slate Building project began as an idea to preserve our family legacy and quickly turned into a community project to help create momentum for future growth in Hesperia,” added Aaron Slate, Slate Property Co.
Contact:
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