LANSING — Governor Gretchen Whitmer announced in a press release that a pair of business expansions in southeast Michigan will create a total of 144 new jobs and bring $4 million in investments to Michigan.
“Michigan is on the move and open for business, competing for and winning big projects in next-generation industries from financial technology to motor sports and more,” said Governor Whitmer. “Today’s announcement will create 144 new good-paying jobs and help cement Michigan as the best place for thinking and building the next big thing. Let’s keep working together to grow our economy, create good-paying jobs, and show the world that Michigan is the best place to build the future.”
According to the release, Aries, a financial technology business headquartered in San Francisco, has 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.
“Aries is incredibly excited to launch this project, and we are deeply grateful to the Michigan Economic Development Corporation and Team Michigan for this strategic partnership, which is instrumental to our vision of contributing to Detroit’s growth as a national and international FinTech hub,” said Reda Falih, CEO of Aries in the release.
“Aries’ decision to establish its global headquarters in Detroit is an economic investment that helps our city rise higher. We welcome the 94 jobs paying $33 an hour with benefits, licensing credentials and a clear path to career advancement that this will bring,” said Detroit Mayor Mary Sheffield. “Detroit is a city where people want to stay, where former residents are eager to return and where companies like Aries are choosing to move and grow. We look forward to building something great together.”
Whitmer also announced that Pratt Miller Engineering & Fabrication, LLC 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.
“Pratt Miller is proud to partner with the Michigan Economic Development Corporation as we continue investing in the future of our business in New Hudson, Michigan. This grant supports our ongoing growth through facility expansion and job creation, while strengthening our ability to deliver advanced innovation and technology across motorsports, mobility, and defense,” said Matt Carroll, Pratt Miller Chief Executive Officer. “For more than three decades, Pratt Miller has built its reputation on solving complex challenges with speed, ingenuity and technical excellence, and we’re excited to continue growing in our home state alongside partners who share our commitment to advancing industry and creating lasting impact.”
