From: Hernandez, Angelita (GOV)
Sent: Wednesday, April 14, 2010 4:43 PM
Subject: What the Governor's Talking about Today

Importance: High

What the Governor’s Talking about Today

Wednesday, April 14, 2010

 

Governor Concludes Overseas Investment Mission to Italy, Germany

The governor today capped her overseas investment mission to Italy and Germany by highlighting Michigan’s new energy economy and job creation in a speech before 100 company leaders, government officials and members of the German press.  The event was co-hosted by the Chamber of Industry and Commerce of the Stuttgart Region and the Byrnes Institute in Stuttgart.

 

While in Germany, the governor also made the case for Michigan in a plant tour and meetings today with executives from the Bosch Group and Daimler AG.  Yesterday the governor pitched officials from Kostal, a manufacturer of electromechanical and mechatronic products, and the Rexroth Bosch Drive and Control.  Kostal is interested in a manufacturing site for patented connector products for solar, stationary battery and EV battery applications, and will make a decision soon on a U.S. location. 

 

The governor also connected with Dieter Zetsche while in Germany, and underscored her support for the Daimler Truck engine plant project in Redford Township.  She took note of Daimler’s new joint venture with Renault Nissan and encouraged Zetsche to consider Michigan for any new investment opportunities.

 

Granholm and Michigan Economic Development Corporation President and CEO Greg Main began their two-country investment mission April 9, encouraging companies to expand or establish their presence in Michigan.  In all, the governor met with CEOs and senior leadership from 10 companies and reached dozens more during speeches in Italy at the National Association of the Automotive Industry (ANFIA) luncheon and in Germany at the Stuttgart Chamber of Commerce event.

 

Key messages:

 

 

Granholm Administration Unveils Plan to Help Homeowners Avoid Foreclosure with $154.5 Million in Federal Funds

The Granholm administration today unveiled the state’s proposed plan to distribute $154.5 million in federal funds beginning this summer that should help more than 17,000 Michigan households avoid foreclosure, including 11,000 homeowners who are currently drawing unemployment benefits and are struggling to make monthly mortgage payments. 

 

In February President Obama announced $1.5 billion in funding for innovative measures to help families in the states that have been hit the hardest by the aftermath of the housing bubble.  The Michigan State Housing Development Authority (MSHDA) was selected as one of the five state housing finance agencies to share in the Hardest-Hit Fund investment.

 

Michigan’s Hardest-Hit Fund plan is designed to help homeowners who:

 

 

Michigan’s plan must be submitted to the U.S. Department of Treasury for review by April 16. Federal approval of the plan is expected by late June.

 

The plan was developed in partnership with representatives from the Michigan Bankers Association, Michigan Credit Union League, Michigan Association of Community Bankers, Michigan Association of Realtors, Michigan Foreclosure Task Force and MSHDA’s statewide homeownership counseling network.  Banks and credit unions will play an integral role in the success of the new program because they will work with homeowners to determine eligibility criteria and best available options. 

 

Key messages:

 

 

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