Basic Search
|
Geographic Searches
|
Advanced Search |
MegadealsSubsidy Tracker Individual Entry
Company: Ferrous CAL Co.
Parent Company:
Subsidy Source: state
Location: Michigan
City: Gibraltar
Address: 28000 W Jefferson Ave Gibraltar
Zip: 48173
Project Description: Michigan Business Development Program and Act 381 Work Plan: Ferrous CAL Co., an affiliate of Ferragon Corp., is a leading provider of toll processing services for steel with operations in Michigan, Ohio, Kentucky, and Mississippi. The company is establishing a new facility on an underutilized, largely vacant property in the city of Gibraltar. The completed project will generate a total capital investment of $50.2 million and create 100 jobs. As a result, the company has been awarded $6 million in Michigan Business Development Program incentive assistance. The MSF and Wayne County Brownfield Redevelopment Authority also approved an Act 381 Work Plan estimated to be worth $4,511,454, which will allow the company to alleviate brownfield conditions on the property and complete the project. The MSF and Wayne County Brownfield Redevelopment Authority also approved an Act 381 Work Plan estimated to be worth $4,511,454, which will allow the company to alleviate brownfield conditions on the property and complete the project.
Year: 2015
Subsidy Value: $2,526,414
Program Name: Brownfield TIF Local Mills
Awarding Agency: Michigan Economic Development Corporation
Type of Subsidy: tax increment financing
Number of Jobs or Training Slots: 100
Source of Data:
(click here)
Notes: Year is fiscal year. Jobs is sum of new and retained positions.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.