The Michigan Economic Growth Authority approved a state tax credit valued at $1.2 million over seven years for new plastics processor Maverick Industries LLC.
Maverick plans to buy a plant near Jackson, Mich., along with machinery and equipment. The company will create 90 jobs and privately invest about $11 million over five years, according to a MEGA news release. Local officials will authorize a seven-year tax abatement for the project. The plant is located in unincorporated Blackman Township. Operations could begin by March, MEGA said.
In August, Kaneka Texas Corp. a unit of Kaneka Corp. of Osaka, Japan halted operations at the plant, where it had made expanded polypropylene bumper reinforcements for the automotive market. Kaneka had been at that site since 2000. According to the state, less-expensive injection molded plastic components replaced that product.
Maverick's president, Thomas Grace, said his firm will manufacture lightweight, recyclable packaging using advanced materials, according to the state. Grace led the formation of Maverick in 2008, to provide packaging support and manufacturing and coordination for new and customer-owned packaging.
Grace did not respond to an e-mail request for comment.
On Feb. 3, MEGA approved credits for 14 economic growth and brownfield redevelopment projects recommended by the Michigan Economic Development Corp., in Lansing.
Maverick itself plans to create 90 new jobs with an average weekly wage of $806, plus partial payment of benefit costs. But MEDC estimated that the business could help generate a total of 208 jobs in the state by 2015 and $3.6 million in state government revenue.
In addition to the Maverick project, MEGA approved expansion support for start-up wind turbine tower manufacturer Great Lakes Towers LLC in Monroe and aerospace tooling firm MT Acquisitions LLC doing business as Models & Tools in Troy.