LANSING ? A Chicago logistics and transportation company has been given a $1 million incentive from the state to establish a new location in Ann Arbor, a project that the state says will generate about $1.2 million in new private investment and up to 125 new jobs.
Coyote Logistics provides shippers with full-scale, third party logistics and transportation services. The company received a $1 million Michigan Business Development Program incentive. Michigan was chosen over competing sites in Texas, California and Colorado. The City of Ann Arbor and Ann Arbor SPARK will offer financial support to assist with recruitment efforts.
?Coyote Logistics is a national leader in logistics and transportation services, and its investment means Michigan residents will get good jobs that could have gone to other states,? said Gov. Rick Snyder. ?Michigan is America?s comeback state and this expansion is another demonstration that Michigan is paving the way to more jobs and greater prosperity.?
The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
?Coyote Logistics is the latest example of a company attracted to the Ann Arbor region because of the talent that?s here, and another CEO choosing to expand into the city they fell in love with while in college,? said Paul Krutko, Ann Arbor SPARK?s president and CEO. ?Since the beginning of 2013, Ann Arbor SPARK has assisted with 26 company projects in the region that will create $92.9 million in investment and 714 jobs. Ann Arbor is a destination for tech companies thanks to its concentration of smart workers and smart companies as well as the great lifestyle offered by our region. The 125 high tech jobs that Coyote Logistics will create in Ann Arbor is part of the virtuous cycle that continues to feed our economic success.?
