ANN ARBOR, Mich., Oct. 26 /PRNewswire/ -- Zingerman's Delicatessen was awarded tax credits and New Eagle LLC announced a Technology Collaboration credit with Powertrain Integration, LLC today to help them expand in the region. Zingerman's Brownfield Michigan Business Tax credit award is valued at $1.1 million and Madison Heights-based Powertrain Integration, LLC's Technology Collaboration Credit is valued at $300,000 based on a $2 million investment in New Eagle LLC. The tax credits were awarded by the Michigan Economic Development Corporation and the State of Michigan.
"Zingerman's is an Ann Arbor institution, and it's exciting to watch it grow here in the region. The partnership between New Eagle and Powertrain Integration is a great example of a successful Michigan company investing in a Michigan start-up for the advancement of technology," said Michael A. Finney, Ann Arbor SPARK president and CEO. "Support from the state will help these companies move forward quickly with expansion plans, ultimately creating new jobs in Michigan."
Zingerman's is investing $6.7 million in the redevelopment and expansion of its existing Ann Arbor deli. The project will include the construction of a new 10,400 square foot, two-story addition that will house a new kitchen, extended dining area, storage, offices and retail area.
New Eagle's MEGA award will support the company's collaboration with Powertrain Integration. New Eagle will generate a unique software code for Powertrain Integration's use in an automotive engine control module. The collaboration will result in the commercialization of the only large-bore, spark-ignited engine available to the on-highway market. The engine will be used in medium-duty, alternative fuel applications.
The Michigan Economic Development Corporation predicts that Zingerman's expansion will create 65 new jobs. Powertrain Integration is expected to generate 26 new jobs and New Eagle 15.
New Eagle previously received microloan funding from the Eastern Washtenaw Microloan Fund, a funding opportunity for start-ups that's part of the Michigan Microloan Fund Program.
ABOUT ANN ARBOR SPARK
Ann Arbor SPARK, a non-profit organization, is the driving force in establishing the Ann Arbor region as a destination for business expansion, retention, and location by identifying and meeting the needs of business at every stage, from startups to large organizations. Ann Arbor SPARK represents all communities in the Washtenaw County. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, Washtenaw Community College, Michigan Works!/ETCS, Washtenaw County, the City of Ann Arbor, the Bank of Ann Arbor and the Michigan Economic Development Corporation. For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.
SOURCE Ann Arbor SPARK