Michigan Initiative Highlights Funding for Recycling Company

Michigan Governor Jennifer Granholm announced the launch of a new Urban Training Program in Benton Harbor, Mich. The goal of the program is to create private investment and jobs in the city.

The Michigan Economic Development Corp. approved funding for Benton Charter Township to provide training for new hires of ACE Companies LLC. ACE will invest $1.2 million to expand its operations and hire 26 residents of the city. Ace Companies is a recycling company. According to press reports the company purchased the former Tobian Metals facility in Benton Harbor, and plans to reopen a secondary aluminum smelter at the location.

The company presently provides recycling services, and is currently providing recycling services to the auto industry.

The township will use $260,000 in federal Community Development Block Grant funding to reimburse Ace Companies for the cost of up to six months of training for the new workers. The program requires the company to hire unskilled residents of Benton Harbor and Benton Charter Township. The new program may be made available to qualified urban communities statewide in coming months.

In addition to the support Ace has received from the state of Michigan, it has also received local assistance from Cornerstone Alliance, the area's economic development organization. The Renaissance Development Fund, the financing affiliate of Cornerstone Alliance, is providing a $90,000 loan to Ace Metals for business operations. A portion of a USDA Rural Enterprise Grant will help fund the loan.