NEWS:

Traverse City’s Skilled Manufacturing, inc. Proves Michigan Recovery on the Horizon

December 15, 2009

Auto Parts Manufacturer Expanding Facility, Offering Jobs

TRAVERSE CITY, MICH, December 15, 2009—In an often-bleak economic climate that led to the coining of the term the “Great Recession,” Traverse City’s Skilled Manufacturing, Inc. (SMI), an automotive parts manufacturer, is proving with its recently authorized state tax credit that all hope is not lost in the Great Lakes State.

Based upon a recommendation from the Michigan Economic Development Corporation (MEDC), the Michigan Economic Growth Authority (MEGA) approved a state tax credit for SMI valued at $571,210 over seven years. With this significant incentive from the state, SMI is set to further develop its Traverse City operations, including the addition of 168 jobs over the course of three years; 73 of which are directly offered by the company and 95 are indirect jobs. An opportunity that is not lost on many struggling residents seeking work in a time of upward of 20% unemployment rates in Northern Michigan. (Michigan has the highest unemployment rate in the country with an average of 15.1% unemployment, according to a November 20, 2009 posting by the U.S. Department of Labor.)

The TC City Commission was quick to authorize the tax abatement that will work in tandem with the state tax credit to continue to make business in Traverse City feasible for SMI.

Traverse City Manager Ben Bifoss believes the SMI expansion is exactly the right move for the city’s economy. “The conversion from auto parts into high tech machining for the aerospace industry will help diversify our manufacturing base and create family-supporting jobs for the future,” Bifoss states.

W. Dodd Russell, SMI President, is encouraged by the recent approvals of the MEGA tax credit and city tax abatement, as the company can now move forward with a $9.5 million investment to expand into the aerospace sector and produce jet-engine parts.

“The recent credit and abatement authorizations from the state and city certainly prove to us that doing business in Michigan is a good thing,” affirms Russell. “Skilled Manufacturing has a team of dedicated employees that truly believe our state has unparalleled manufacturing capabilities. We are thrilled to be expanding our operations in Traverse City and view this growth as a joint effort with the state and the city.”

Traverse City competed for the SMI business against sites in both Arizona and Indiana.

Skilled Manufacturing, Inc., based in Traverse City, Michigan, is a parts manufacturing facility featuring automotive, aerospace and specialty divisions. With a fully contained operation, SMI directs one hundred percent of quality control and internal processes. The adoption of lean manufacturing principles allows for efficiency, safety, cost control, environmental responsibility and quality products. SMI has two facilities located in Traverse City and can be found online at www.skilledmfg.com.