LANSING—Sen. John Proos announced that he will be joining state and local leaders on Tuesday at a ribbon-cutting ceremony for an expansion project in Bangor that is expected to create up to 50 jobs.
Marrone Bio Innovations (MBI) recently announced it has funded a $10 million loan with Five Star Bank under the U.S. Department of Agriculture (USDA) Business and Industry (B&I) Guaranteed Loan Program. The funds will be used to expand the production capacity of the MBI plant in Bangor.
“This is outstanding news for Bangor and the entire Southwest Michigan region,” said Proos, R-St. Joseph. “I applaud Marrone Bio Innovations for their commitment to our community and the state. Two years ago, they chose to invest in Michigan, purchased an old biodiesel site in Bangor and transformed it into a manufacturing facility – bringing needed jobs to the region. Now, the plant’s success is resulting in more investment and long-term jobs.”
MBI is a California-based biotechnology company and leading global provider of bio-based pest management and plant health products. The 11,400-square-foot Bangor facility produces an environmentally compatible pesticide, Zequanox, to deal with zebra mussels.
Proos and Rep. Aric Nesbitt, R-Lawton, will also present a special tribute to MBI officials.
“This investment is expected to bring 40-50 new jobs to Bangor while also enhancing innovation in bio-manufacturing in the important fight against invasive species,” Proos said.
The B&I Guaranteed Loan Program supports the development and growth of businesses and employment in rural communities and strives to improve the economic and environmental climate in those areas. The program does not grant loans directly; rather, it works with existing private credit providers to guarantee loans that fund enterprises providing long-term benefits to communities.
Editor’s Note –Audio comments by Proos are available on the senator’s webpage at www.SenatorJohnProos.com. Click on “Audio” under the Media Center tab.