FLINT -- Governor Jennifer Granholm reports that RASCO, the new-to-Michigan leader in the renewable energy, water and telecommunications sectors, plans to invest $18.5 million to establish a new headquarters to house research and development, engineering and assembly for its Integrated Distributive Utilities Network in Flint. The company is reportedly looking at property on Cole Rd. near Buick City.
The project is expected to create 1,813 new jobs, including 765 directly by the company.
The MEDC estimates the increased economic activity created by the project will create an additional 1,048 indirect jobs. Based on the MEDC’s recommendation, the MEGA board today approved a state tax credit valued at $9.1 million over seven years to encourage the company to expand in Michigan over competing sites in Delaware, New York and Virginia.
The city of Flint is considering a 15-year abatement in support of the project.
