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:
- The governor’s overseas
investment missions are about going anywhere and doing anything to bring new
investment and jobs to Michigan. The overwhelmingly positive
response the governor received from Italian and German business executives
demonstrates Michigan’s advantages: an aggressive
economic diversification strategy, a competitive business climate, and a
highly-skilled and highly-productive workforce.
- The tour to
Italy and Germany was the governor’s tenth
overseas investment mission since 2004. Her previous missions to
Austria, Belgium, Germany, Israel, Japan, Jordan and Sweden have resulted in
47 companies announcing over $1.6 billion in new investment in Michigan and
12,995 (7,344 direct) jobs created and retained.
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:
- Are
currently receiving unemployment compensation
- Have
fallen behind in their mortgage payments or taxes due to a temporary layoff or
medical emergency
- Can no
longer afford their mortgage payments due to lower
income
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:
- Protecting
families during these tough economic times is one of our top priorities.
These funds will help people who have fallen behind on their mortgages due to
job loss or other unforeseen circumstances to avoid the devastation of
foreclosure. Nationally, more than 57 percent of mortgage
delinquencies can be attributed to job loss.
- Under the governor’s
leadership, Michigan has become a model for the nation
for developing policies and partnerships to help both those who are at risk of
becoming homeless and those who reside in shelters or on the street.
MSHDA has spearheaded the Michigan Campaign to End Homelessness, the nation’s
only statewide strategic initiative. The campaign is tailored to the
diverse needs and challenges of each of Michigan’s 83
counties.
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