Gov. Gretchen Whitmer on Tuesday announced two business expansion projects in southeast Michigan creating over $4 million in capital investment and 144 good-paying jobs, contributing to the growth of Michigan’s economy.
“Today’s announcement truly reflects the importance of the state having the ability to work with Michigan companies to ensure that their expansion and growth plans happen here in the state,” noted Matt McCauley, Senior Vice President of Regional Development at the Michigan Economic Development Corporation. “We congratulate Aries and Pratt Miller for their commitment to Michigan and seeing that this is the place for businesses to succeed and excel.”
Aries is a financial technology (FinTech) business that develops software and platforms for trading and market research.
Established in 2021 and headquartered in San Franciso, California, Aries develops software and platforms for trading and market research. The company offers access to trading stocks, options, and other assets in numerous countries, with revenue often derived from software licensing and partnerships. Aries has built an open-source financial infrastructure to enable developers to build and launch their own applications.
They have announced their plans to locate their global headquarters in Detroit which will also serve as their customer operations center, positioning Detroit as a rapidly growing financial ecosystem and FinTech innovation hub. The facility will house their operations and compliance center, housing additional demand for Financial Industry Regulatory Authority (FINRA) licensed financial representatives providing trading support, compliance monitoring, and client service.
The company anticipates the project will result in capital investment of at least $1,072,800. The project will also result in the creation of at least 94 new jobs with starting wages of $33.00 per hour plus benefits, which is above the regional median wage of $24.69 per hour. The MSF has supported the company’s relocation efforts through a Michigan Business Development Program (MBDP) performance-based grant in the amount of $250,000.
Pratt Miller Engineering & Fabrication, LLC, a Michigan-based business, is a groundbreaking engineering and product development company, with winning roots in motorsports while also serving as global customer base, delivering ingenious solutions to the motor sports, defense, mobility, and innovation industries.
Founded in 1989, the company was acquired by Oshkosh Corporation in 2021 with headquarters in New Hudson, Michigan, and has been experiencing growing customer demand in its motorsports and defense division.
Pratt Miller is announcing their plans to expand two of their existing facilities to continue the growth of its high technology business in New Hudson.
The expansion plans will add an additional 24,000 square feet and create additional engineering and skilled manufacturing jobs over the next three years. The first facility expansion will add another professional sportscar race team and expanded support for existing Corvette GT3 race car customer support business. The second facility expansion will create a specialized and rare secure space to support innovative survivability and lethality solutions for government customers.
“Today’s announcement truly reflects the importance of the state having the ability to work with Michigan companies to ensure that their expansion and growth plans happen here in the state,” noted Matt McCauley, Senior Vice President of Regional Development at the Michigan Economic Development Corporation. “We congratulate Aries and Pratt Miller for their commitment to Michigan and seeing that this is the place for businesses to succeed and excel.”
Aries is a financial technology (FinTech) business that develops software and platforms for trading and market research.
Established in 2021 and headquartered in San Franciso, California, Aries develops software and platforms for trading and market research. The company offers access to trading stocks, options, and other assets in numerous countries, with revenue often derived from software licensing and partnerships. Aries has built an open-source financial infrastructure to enable developers to build and launch their own applications.
They have announced their plans to locate their global headquarters in Detroit which will also serve as their customer operations center, positioning Detroit as a rapidly growing financial ecosystem and FinTech innovation hub. The facility will house their operations and compliance center, housing additional demand for Financial Industry Regulatory Authority (FINRA) licensed financial representatives providing trading support, compliance monitoring, and client service.
The company anticipates the project will result in capital investment of at least $1,072,800. The project will also result in the creation of at least 94 new jobs with starting wages of $33.00 per hour plus benefits, which is above the regional median wage of $24.69 per hour. The MSF has supported the company’s relocation efforts through a Michigan Business Development Program (MBDP) performance-based grant in the amount of $250,000.
Pratt Miller Engineering & Fabrication, LLC, a Michigan-based business, is a groundbreaking engineering and product development company, with winning roots in motorsports while also serving as global customer base, delivering ingenious solutions to the motor sports, defense, mobility, and innovation industries.
Founded in 1989, the company was acquired by Oshkosh Corporation in 2021 with headquarters in New Hudson, Michigan, and has been experiencing growing customer demand in its motorsports and defense division.
Pratt Miller is announcing their plans to expand two of their existing facilities to continue the growth of its high technology business in New Hudson.
The expansion plans will add an additional 24,000 square feet and create additional engineering and skilled manufacturing jobs over the next three years. The first facility expansion will add another professional sportscar race team and expanded support for existing Corvette GT3 race car customer support business. The second facility expansion will create a specialized and rare secure space to support innovative survivability and lethality solutions for government customers.
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