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April 24, 2008 - Image 36

Resource type:
Text
Publication:
The Detroit Jewish News, 2008-04-24

Disclaimer: Computer generated plain text may have errors. Read more about this.

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Granholm slates Mideast visit in
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A36

April 24 • 2008

ov. Jennifer Granholm will
visit Israel and Kuwait next
week to meet with business
leaders and encourage them to invest in
Michigan, hopefully creating new jobs
in the process and spur-
ring the state's depressed
economy.
The trade mission
runs April 30-May 8. It
coincides with Israel's
celebration of 60 years
of statehood on May 8,
Yom HaAtzmaut (Israeli
Independence Day).
"International invest-
ment missions are part of
our economic plan to go anywhere and
do anything to bring jobs to Michigan,"
Granholm said.
"In the last five years:' she added,
"we have gone overseas to bring to
Michigan new investment and jobs
from global companies looking to
expand their presence or open their
doors in North America. Now, with a
host of new business tools, combined
with our world-renowned workforce,
we have an even stronger case to make'
Michigan has lost 400,000 manufac-
turing jobs in recent years, she said.
Israel and Kuwait were selected
because the Michigan Economic
Development Corporation (MEDC)
identified them as likely business part-
ners.
The sojourn will be the Democratic
governor's sixth overseas investment
mission since 2004. Republicans and
other skeptics have branded such mis-
sions publicity stunts or acts of desper-
ation given Michigan's dark economic
climate.
But the governor's staff cites previ-
ous job hunts to Germany, Austria,
Japan and Sweden as having a positive
impact: 37 companies announcing $818
million in new investment with more
than 9,000 jobs created and retained.
MEDC President and CEO James
Epolito and other economic devel-
opment officials will accompany
Granholm on the mission. The MEDC
will cover the travel cost. An official of

the Chicago-based Consulate General of
Israel to the Midwest also will be part
of the travel contingent.
While in Israel and Kuwait,
Granholm will target companies in the
technology sectors of advanced manu-
facturing, alternative energy, homeland
security, defense and water treatment.
Meeting hosts will include gov-
ernment and company officials.
"News of Michigan's excit-
ing transformation is reaching
a global audience," Epolito
said. "This mission will allow
us to continue our concerted
efforts to showcase our state
as a growing high-tech hotspot
and the best place in North
America for international com-
oim
panies to do business."
Following the governor's missions
to Japan in 2005 and 2006, 21 compa-
nies started their intent to expand in
Michigan, including DENSO, Konica
Minolta, Meiden American, Mitsubishi
Heavy Industries and Tokai Rika. Total
investment, according to the governor's
office, was $339.4 million with 2,248
jobs created and retained.
Granholm's investment-seeking
sojourns to Germany in 2004 and to
Germany and Austria in 2007 resulted
in several companies announcing
investments totaling $397 million with
4,532 jobs created and retained. Her
trek to Sweden and Germany in 2007
netted $82 million in new investments
with 2,397 jobs created and retained,
according to her office.
Granholm is one of six governors
who will visit Israel this year.
"Their visits acknowledge the impor-
tance, centrality and contribution that
Israel can make by way of exchanges
between the State of Israel and the
states of America," said Barukh Binah,
Israel's Chicago-based consul general.
Israel's economy has grown 4 per-
cent. It boasts a gross domestic product
(GDP) per person of $22,000 — $9,000
higher than 15 years ago. The GDP rep-
resents the value of all final goods and
services from a nation in a given year.
"High tech brings in 55 percent of
Israel's income Binah said. "We're
doing quite well, at least economi-
cally." 0

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