Troy-based CareTech Solutions and Broomfield Hills-based ESI North America are investing a combined $32.4 million in the state over the next five years, a commitment thatâ€™s expected to create 550 new jobs."It's a win for the State of Michigan," says CareTech President and CEO Jim Giordano. "As we expand our business in other states, 50 percent of the jobs created will remain in Michigan."
CareTech is a health care information management company with 590 Michigan-based employees, a payroll count that will jump by 440 new employees in the next five years. CareTech is investing $28 million in its 65,000 square foot Troy-based headquarters, which will be expanded to 110,000 square feet. The first 10,000 square foot addition should be complete within the next six months.
The MEGA grants funneled through the Michigan Economic Development Corporation (MEDC) encouraged both companies to stay in the mitten. CareTech was exploring an Ohio location and had been approached by representatives in Florida, Pennsylvania, both Carolinas and West Virginia.
A $7.8 million Michigan state tax credit encouraged CareTech to remain in Michigan.
Digital simulation software company, ESI, was considering an expansion to Alabama or California. However, a $2.8 million Michigan tax credit encouraged ESI to stay in Bloomfield Hills.
ESI is investing $4.4 million to expand its 10,000 square foot facility by 5,000 to 10,000 square feet. Eventually ESI will move its headquarters to a larger facility within Oakland County."I am convinced that the support of the State of Michigan and Oakland County will allow ESI to expand not only our facilities, but our capabilities and ultimately, our client base," says ESI President Michael Bloor.
Posted by Erin Rose at 12:50 PM