In this week’s radio address, Governor Granholm said that on the eve of National Consumer Protection Week (March 7-13), the state is seeking to protect consumers with debt problems from ending up in even more precarious financial situations.

Hello, this is Governor Jennifer Granholm.

You see and hear the commercials on TV and radio. Soothing voices say, “We know it’s tough out there.” “Get out of debt now.” “Debt relief is just a phone call away.” These are all pitches from debt-settlement companies claiming they can get you out of a financial hole. The number of these companies has been multiplying because of skyrocketing consumer debt.

But on the eve of National Consumer Protection Week, you need to know that there’s a big difference between unregulated companies claiming they can settle consumer debt, and state-licensed companies that offer debt counseling and management programs. Warning consumers about the bad guys and making sure there are safe alternatives to resolving consumer debt is part of our continuing efforts to protect consumers and their pocketbooks.

Unregulated debt-settlement companies usually charge exorbitant up-front fees. They hold the consumer’s monthly payments in an escrow account, and the company then attempts to negotiate payoffs with creditors.

Debt-settlement companies will advise consumers to stop paying their creditors. But by avoiding creditors, the consumers’ credit scores will drop dramatically while interest on their debt and late fees keep going up. A number of unregulated debt-settlement companies are simply scams. They disappear after consumers pay them thousands of dollars in up-front fees.

If you need help getting out of credit card debt, there are safe alternatives to unregulated debt-settlement companies. Consumers may find assistance at their banks or credit unions. And there are debt-management companies that must be licensed by the state Office of Financial and Insurance Regulation.

These companies are required to employ qualified debt counselors and offer detailed budgeting and debt and credit counseling assistance. And they employ more than 700 qualified counselors who understand Michigan law regarding debt.

There are a number of ways you can get a list of licensed debt-management firms in Michigan. You can find the information on the Web at www.michigan.gov/ofir. Or simply call toll-free 877-999-6442.

Next week we’ll be observing National Consumer Protection Week in Michigan. The Federal Trade Commission has organized a coalition of groups to provide consumer tips on a wide range of topics, including debt settlement. You can find the tips at www.consumer.gov/ncpw. Here in Michigan, the Office of Financial and Insurance Regulation offers a host of tips for consumers as well.

If you have a problem with debt, educate yourself about the debt-relief options available to you. And beware of debt-relief scams. Consider contacting a firm that is regulated by the state instead. You’ll be glad you did.

Thank you for listening.

Categories: Michigan Headlines

Pay As You Go? Michigan Senate Says He#@ No!

News from the Michigan Senate Democrats - Fri, 03/05/2010 - 12:00am

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Categories: Michigan Headlines

Anderson Applauds Michigan and Detroit-Warren-Livonia Rankings in Business Expansion

News from the Michigan Senate Democrats - Fri, 03/05/2010 - 12:00am

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Categories: Michigan Headlines

Michigan Ranks No. 3 State for Major New Corporate Expansions

Gov. Jennifer Granholm's Blog - Thu, 03/04/2010 - 9:15pm

For the second year in a row, Michigan was third in the nation for major corporate expansions.

Governor Jennifer M. Granholm today announced Site Selection magazine has named Michigan the No. 3 state in the nation for major new corporate facilities and expansions in 2009.

“We just witnessed a thrilling global competition where many times the difference between winning a gold or bronze medal was a mere fraction of a second,” Granholm said. “The same holds true for Michigan in this important 50-state contest. We take pride in winning the bronze, but won’t rest until we win the gold. We will continue to push our go anywhere, do anything, aggressive economic development and diversification plan to accomplish that goal.”

Site Selection, a global business publication, verified 371 projects that met capital investment, job-creation or size standards, up from 296 for 2008, as part of its annual Governor’s Cup ranking. This is the second year in a row that Michigan has finished in the top three. This year, Michigan was 10 projects back of first-place Ohio and three back of second-place Texas. Pennsylvania finished fourth with 333 projects. Rounding out the top 10 were Tennessee, New York, North Carolina, Illinois, Virginia and Indiana.

Major new corporate projects for Michigan in 2009 included: advanced energy storage and solar firms like Xtreme Power and Clairvoyant Energy on the site of the former Ford Wixom assembly plant; advanced-battery development and manufacturing firms A123 Systems (Ann Arbor), Johnson Controls-Saft Advanced Power Solutions (Holland), and Dow Kokam (Midland); and major expansions by General Motors and Ford for electric and hybrid vehicle production here.

Site Selection also recognized Detroit-Warren-Livonia as the nation’s No. 4 metro area with a population of one million or more for new and expanded corporate facilities. Among metro areas with a population of between 200,000 and one million, Grand Rapids-Wyoming tied for third; Holland-Grand Haven was fifth; and Ann Arbor and Lansing-East Lansing tied for sixth.

“This yearly analysis is seen as a standard of performance by corporate real estate and site selection professionals and as such, demonstrates that Michigan holds a strong and enviable position in the face of economic distress,” Michigan Economic Development Corporation President and CEO Greg Main said. “These high rankings reinforce that Michigan is a top-tier location for growing companies because of our aggressive initiatives, strong business climate and hard-working and talented workforce.”

Site Selection’s annual Governor’s Cup competition recognizes the states with the most new or expanded private-sector capital projects as tracked by publisher Conway Data Inc.’s new plant database. Facility projects counted in the Governor’s Cup, Top Metros and Top Micropolitan rankings meet one or more of these criteria: capital investment of $1 million or more, creation of 50 or more new jobs, or new floor space of at least 20,000 square feet.

Categories: Michigan Headlines

SCHOLARSHIP ESSAY CONTEST OFFERED TO YOUNG WOMEN

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Senate Approves Basham Airline Resolution to Create Jobs, Connect Detroit with Tokyo

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Senator Anderson and Senate Higher Education Appropriations Subcommittee Hold Hearing in Livonia

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ADULT EDUCATION ESSENTIAL TO JOB GROWTH

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Governor Granholm on “To The Point”

Gov. Jennifer Granholm's Blog - Sun, 02/28/2010 - 6:56pm

Governor Granholm sits down with WOOD TV’s Rick Albin to discuss this year’s budget proposals.

Categories: Michigan Headlines

Radio Address: A Great Week for Efforts to Diversify Michigan’s Economy

Gov. Jennifer Granholm's Blog - Fri, 02/26/2010 - 6:32pm

In this week’s radio address, Governor Granholm takes a look at the how the announcement that Dow is expanding their efforts in renewable energy is a great example of how our the state is working in partnership with business to diversify our economy.

Hello, this is Governor Jennifer Granholm.

This was a great week for Michigan and the Dow Chemical Company.

Dow is a Michigan company headquartered in Midland, and it announced a combined investment of almost $1.3 billion in three clean-energy projects that’ll create thousands of new jobs in our state - in wind, in solar and in batteries. And these three projects came to fruition through Dow and the state of Michigan working together to achieve our mutual goals of diversification of the economy and job creation.

First, Dow announced that it will manufacture its new Powerhouse solar shingle in Midland. This is a revolutionary product. It’s a solar panel that looks like a shingle. The Powerhouse solar shingle will crate 1,275 new jobs at Dow, with the potential for another 425, plus an estimated 4,400 spin-off jobs.

Dow’s announcement that it would produce its Powerhouse shingle in Midland was the culmination of 18 months of collaboration between the state and Dow to help the company diversify into clean energy. Dow has facilities in 23 states and 51 countries and really could have chosen any one of them to manufacture this exciting new product. But by state government partnering with Dow, the Powerhouse solar shingle is going to be made right here in Michigan.

The second Dow project involves advanced-battery production. This week, a state advanced-battery tax credit was awarded to a Dow joint venture - Dow Kokam - to support the manufacture of cells and batteries for electric and hybrid vehicles. About $670 million has been invested in Dow Kokam’s Midland facility. And up to 800 new jobs will be created - Michigan jobs for Michigan workers.

The third piece of good news this week was that Dow is being designated as the state’s seventh Center of Energy Excellence.

Michigan’s Centers of Energy Excellence, with the assistance of state grants, enable innovative companies like Dow to partner with our world-class universities and research centers to accelerate the commercialization, the selling of clean-energy technologies.

Dow’s Center of Energy Excellence will focus on developing low-cost carbon fiber materials for products like advanced wind turbine blades. The challenge with wind turbine blades is making them lighter and stronger. This is an opportunity for Dow to find a solution that can be used throughout the wind-energy industry.

The three Dow clean-energy projects announced this week - all supported with targeted state incentives designed to diversify Michigan’s economy - will create up to 2,500 new jobs at Dow and an estimated 4,400 spin-off jobs. Through partnerships like the one between Dow and state government, we are helping transform Michigan into the nation’s center for clean-energy manufacturing and create thousands of jobs for Michigan workers.

Thank you for listening.

For more on how Michigan is making significant strides in the new “green” economy, check out Governor Granholm’s op-ed piece for the Huffington Post.

Categories: Michigan Headlines

Senator Hunter Invites Local Residents To Join Him For "Talk Time With Tupac"

News from the Michigan Senate Democrats - Fri, 02/26/2010 - 12:00am

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Categories: Michigan Headlines

Governor Granholm Announces More Than 17,300 New Jobs for Michigan

Gov. Jennifer Granholm's Blog - Thu, 02/25/2010 - 11:22am

This just in from the Governor’s Office:

LANSING – Governor Jennifer M. Granholm today announced that the Michigan Economic Development Corporation (MEDC) is helping 10 companies grow in Michigan and backing a brownfield redevelopment project that will enable a company to expand. Combined, the 11 projects are expected to create 17,321 new jobs (5,749 direct and 11,572 indirect) and generate over $804 million in new investment in the state.

The projects include a new research and development facility in Northville Township that will supply materials for lithium-ion battery cells, the re-launch of a facility in Cadillac that manufactures boats, and the expansion in Perry Township of a high-tech firm that provides automotive engineering and test development services.

“Companies are choosing to invest and grow in Michigan because we are a great state in which to do business,” Granholm said. “From solar shingles and advanced batteries to boats and scrap-tire recycling, we are creating a diversified economy where firms across a wide spectrum of industries are finding success and growing new jobs.”

The Michigan Economic Growth Authority (MEGA) board today approved incentives to win the following projects for Michigan over competing states and countries:

• Advanced Integrated Tooling Solutions LLC – The new-to-Michigan subsidiary of Advanced Integration Technology Inc. is a global supplier of fabrication, installation and maintenance of fully integrated plant floor systems. The company plans to invest $13.3 million to manufacture equipment for commercial, retail and military aircraft in Chesterfield Township. The project is expected to create 1,435 new jobs, including 275 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 1,160 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $3.2 million over eight years to encourage the company to expand in Michigan over competing sites in Ohio, Texas and Pennsylvania. Chesterfield Township is considering an abatement in support of the project.

• ALTe LLC – The automotive supplier engaged in the engineering, assembly and integration of battery powertrain systems plans to invest $51.3 million to open an assembly facility in Auburn Hills to retrofit existing fleet and other high-mileage vehicles. The project is expected to create 1,147 new jobs, including 305 directly by the company. The MEDC estimates increased economic activity created by the project will create an additional 842 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $8.4 million over seven years to help convince the company to expand in Michigan over competing sites in North Carolina, South Carolina, Illinois and Ohio. The city of Auburn Hills has approved a four-year abatement valued at $242,500 in support of the project.

• CIBER Inc. – The provider of IT outsourcing and consultancy services to clients in government, finance and manufacturing plans to invest $8 million to establish a U.S. development center in Southfield to provide a comprehensive range of services, including IT infrastructure, operations, application management and support. The project is expected to create 1,394 new jobs, including 700 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 694 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $10.1 million over seven years to encourage the company to expand in Michigan over a competing site in Florida. The city of Southfield has approved an abatement valued at $1.2 million in support of the project.

• Cobalt Holdings LLC – The new-to-Michigan recycler and processor of scrap tires plans to invest $6.1 million to expand and consolidate in Sturgis. The project is expected to create 187 new jobs, including 100 directly by the company, over five years. The MEDC estimates the increased economic activity created by the project will create an additional 87 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $353,685 over five years to encourage the company to expand in Michigan over a competing site in Indiana. The city of Sturgis is considering an abatement valued at $169,000 over 12 years in support of the project.

• The Dow Chemical Company – The MEGA board approved a new jobs creation state tax credit valued at $61.3 million over 15 years for Dow projects, which include the full-scale production facility in Midland for the company’s DOW™POWERHOUSE™ Solar Shingle, subject to finalizing local, state and federal funding. The solar project is expected to generate $249 million in private investment and create 6,100 new jobs in the value chain, including 1,275 direct Dow jobs. Additional projects over the life of the tax credit could create up to an additional 425 jobs and $351 million in additional investment.

• Dow Kokam – The joint venture between Dow Chemical Company and Townsend Ventures was formed to manufacture cells and batteries for electric and hybrid vehicles. As previously announced, the company plans to invest $342 million as part of the second phase of a project to build a large-scale manufacturing facility in Midland. The project will create 480 total jobs. Based on the MEDC’s recommendation, the MEGA board today approved an advanced- battery tax credit valued at $42 million to support the company’s battery-cell manufacturing operations. The city of Midland is considering local incentives in support of the project. The Michigan Department of Energy will support the project with up to $300,000 in training funds.

• Four Winns LLC – The manufacturer of recreational fiberglass boats has defined a project to invest up to $63 million over the next eight years, an average of $7.9 million per year, to expand in Cadillac to support increased production of Four Winns, Wellcraft and Glastron boat brands currently produced in Cadillac and Little Falls, Minnesota. Assuming a return to peak manufacturing levels, the project has the potential to create 5,255 total jobs, including up to 2,320 directly by the company, between now and 2018. The MEDC estimates the increased economic activity created by the project could create an additional 2,935 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $27.1 million over eight years to encourage the company to expand in Michigan over competing sites in Minnesota and Tennessee. The city of Cadillac is considering an abatement in support of the project.

• Katcon USA Inc. – The global supplier of catalytic converters, exhaust modules and complete exhaust systems plans to invest $3.7 million to create a new technical center in Auburn Hills. The project will create 74 total jobs, including 35 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 39 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $534,633 over seven years to encourage the company to expand in Michigan over a competing site in Mexico. The city of Auburn Hills is considering an abatement to support the project.

• Sakor Technologies – The designer and builder of advanced dynamometer systems for testing engines, power-trains, and electrical power equipment plans to invest $1.1 million to expand to a new facility in Perry Township. The project will create 46 total jobs, including 25 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 21 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $363,975 over seven years to encourage the company to expand in Michigan over a competing site in Colorado. The township of Perry is considering a 12-year abatement valued at approximately $49,472 to support the project.

• TSC Michigan Inc. – The new-to-Michigan subsidiary of Techno SemiChem Corp. plans to invest $31.1 million to locate its North American headquarters in Northville to conduct research and development and pilot production efforts to produce electrolyte for advanced lithium ion battery cells. The project will create 1,673 total jobs, including 279 directly by the company. The MEDC estimates the increased economic activity created by the project will create an additional 1,394 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $3.2 million over seven years to encourage the company to expand in Michigan over a competing site in South Korea. The township of Northville is considering an abatement to support the project.

• Charter Township of Brownstown – State and local tax capture valued at $58,500 will support the redevelopment of a vacant parcel adjacent to National Wine and Spirits Inc. (NWS) to expand the company’s warehousing and office operations. As part of the project, NWS will demolish an existing building on the site and construct a new building. The expansion will also require soil and underground storage tank removal and remediation. The project will generate $26.5 million in new capital investment and create up to 10 new jobs.

“These job-creating company expansions and brownfield redevelopment projects are the result of successful collaboration and teamwork with our economic development partners around the state to bring these projects to Michigan against some very intense national and international competition,” MEDC President and CEO Greg Main said.

For more information on the MEDC’s initiatives and programs, visit the Web site at www.MichiganAdvantage.org. For updates on MEDC programs, events, success stories and more, follow us on Twitter (www.twitter.com/MIAdvantage), become a fan on Facebook (www.Facebook.com), read our blog at (http://blog.michiganadvantage.org) and subscribe to the MEDC YouTube channel (www.youtube.com/user/michiganupperhand).

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