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Tag: Rapid River

Creative Composites to expand in Rapid River Michigan creating 17 new jobs.

Creative Composites to expand in Rapid River Michigan creating 17 new jobs.

March 12, 2024 Craig Etkin

Rapid River, Michigan — According to state and local development sources, Creative Composites plans to invest $960,000.00 to build out new space in Rapid River. The company is creating 17 new jobs at this facility….

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Pepsi Beverages Sales LLC, a wholly owned subsidiary of PepsiCo, plans to invest $62 million establish an upgraded facility in Claymont. The new site, located in the same county as the previous Wilmington facility, will retain 216 existing positions and create 77 additional jobs in the state, playing a key role in expanding the entity’s Northeast warehousing capabilities. Located at 4145 Philadelphia Pike, the facility is part of the redeveloped Claymont Steel Mill property. PepsiCo will complete multi-million-dollar renovations to the leased 359,000-square-foot space and make significant investments in new equipment to enhance regional operations and support growing demand. In addition, the site will serve as a key hub for supporting manufacturing sites across the region.

Delaware Prosperity Partnership (DPP) collaborated with PepsiCo to secure the Claymont location and connect the company with state resources. On Monday, the state Council on Development Finance (CDF) approved up to $2,887,000 in grant funding from the Delaware Strategic Fund. These grants, contingent on PepsiCo meeting commitments for job retention, job creation and capital investment, underscore Delaware’s proactive support for businesses investing in the state.

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $91 billion in net revenue in 2023, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.

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Howmet Aerospace Inc., which manufactures jet engine and industrial gas turbine components, is working to build a ceramic core production building on property it already owns in Whitehall. The $108 million facility would include 107,000 square feet of manufacturing space and 4,500 square feet of office space. the Michigan Strategic Fund board has approved a request for a $5.1 million Michigan Business Development Program Grant and a State Essential Services Assessment exemption, worth up to $1.6 million. The facility is expected to bring up to 300 new jobs to Muskegon County. Howmet, which launched operations in Whitehall in 1952 and has nine plants in the city and currently employs about 2,440 people in Whitehall. Howmet Aerospace is based in Pittsburgh, Pennsylvania, and has over 23,000 employees worldwide. Some of its leading customers include Pratt & Whitney, Airbus, Lockheed Martin and Boeing.

In a statement, Ben Squires, Howmet Aerospace director of government affairs said, “Our leadership had to consider multiple factors when making an investment decision of such a substantial scale.” Support of the Michigan Economic Development Corporation, the city of Whitehall and others helped seal the deal for the company’s expansion in West Michigan. The city of Whitehall is also expected to approve a property tax cut for the project.

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A2 Biotherapeutics, has announced the closing of its $80 million Series C financing round, supported by a syndicate of investors that includes The Column Group and Samsara BioCapital. Proceeds will fund the company’s three clinical development programs and advancement of its pipeline of CAR-T cell therapies based on its proprietary Tmod platform technology.

In a statement Jim Robinson, chief executive officer of A2 Bio said, “We are excited by the initial clinical data from our lead programs, which we believe validates our proprietary logic-gate technology approach to solid tumor cancers.” “This funding will enable us to continue ongoing clinical development of our CAR-T cell therapies as well as fund the potential next phase of development.”

A2 Biotherapeutics is a clinical-stage biotech company developing first-in-class logic-gated cell therapies to address the high unmet need in cancers. A2 Bio invented the proprietary Tmod™ cell therapy platform to tackle the fundamental challenge in cancer treatment—the ability of cancer medicines to distinguish between tumor and normal cells. A2 Biotherapeutics, established in 2018, is a fully integrated discovery, development and manufacturing company based in Agoura Hills, Calif. A2 Bio plans to direct the Series C funds to support the company’s three clinical studies, as well as to advance preclinical programs using its Tmod™ platform for potential clinical targets representing significant unmet needs in cancer and beyond.

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