Amy Lane
Crain's Detroit Business

Five companies bringing $79.4 million in investment mostly to Southeast Michigan were cleared for nearly $23.3 million in state tax credits on Tuesday.

The projects were among 10 statewide to receive assistance from the board of the Michigan Economic Growth Authority.

They included:

• A $11.4 million expansion by a Farmington Hills business process outsourcing company. The expansion in Southfield by The Minacs Group (USA) Inc. is expected to create some 1,928 new jobs, with the help of a $9.1 million state tax credit approved by the MEGA board.

A MEGA board briefing memo said the city of Southfield has also proposed a three-year personal property tax abatement with an estimated value of $208,000 in support of the project.

• A $4.2 million investment in downtown Detroit by Somerset, N.J.-based information technology services provider GalaxE. Solutions Inc. Read more in the Crain's story.

The company plans to create up to 500 jobs and lease space in the 1001 Woodward building adjacent to Compuware Corp.'s headquarters on Campus Martius. It was approved for a $4.6 million state tax credit.

• A $12 million project by PSCU Financial Services Inc. to expand software development, sales and technology-based call center operations and support services in Michigan, consolidating two operations in Auburn Hills and Southgate into a single location in Auburn Hills.

The expansion by the St. Petersburg, Fla.-based company, which provides financial services to credit unions, is expected to create 837 jobs. The MEGA board approved a tax credit of up to $3.5 million for the project.

A MEGA board briefing memo said the city of Auburn Hills plans to consider a property tax abatement in support of the project. The staff at the Michigan Economic Development Corp. estimate the value of an eight-year abatement at $349,836.

• A $49.2 million expansion by Troy-based Magna Holdings of America Inc., in four Michigan communities. The project involves several Magna divisions and would create up to 508 jobs in Auburn Hills, Shelby Township, Troy and Lansing. Read more in the Crain's story.

The company was approved for a $5.6 million state tax credit.

• An approximate $3 million investment by Aeroflex/Inmet Inc. in Ann Arbor, a manufacturer and designer of microwave and wireless components.

The project would expand current operations and relocate design and manufacturing of a resistor product line from New Jersey to Ann Arbor, creating 47 jobs.

The MEGA board approved a $466,004 state tax credit. A briefing memo said Scio Township expects to approve a $42,000 tax abatement in support of the project.

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