FIRM SEEKS TO BUY 220 ACRE GM PROPERTY

Plans underway to build a state-of-the-art intermodal freight center

(July 31, 2007 Flint, MI) Mid Michigan Global Link, the company selected to become the first operator of the Flint-Saginaw-Bay City Foreign Trade Zone, has informed the community and General Motors of its interest in purchasing the 220 acre former Buick City property at Hamilton Street and James P. Cole Boulevard. MMGL wants to build a freight facility capable of handling truck and railroad traffic on the property.

The announcement was made at a 9:00 a.m. press conference held at Flint City Hall. “I am here today to announce the City of Flint’s Global Intermodal Initiative,” said Mayor Donald Williamson. “We have been known as the Vehicle City since the arches were built on Saginaw Street over 100 years ago. If this community puts its best foot forward and if private and public sector officials work together on an effective incentive package, in the future we will be known as the Global Intermodal City.”

The announcement signals the beginning of negotiations between MMGL and General Motors over the purchase of the property. A proposal for purchase of the property has been sent to General Motors. “We have spent over a year scrutinizing and nurturing the Global Intermodal Initiative,” said Tim Herman, CEO of the Genesee Regional Chamber of Commerce. “We believe MMGL has built a solid business case for the development and we think it will resonate with General Motors. Our job now is to put together the economic development incentives that will be necessary to make the project a reality.”

MMGL plans to turn the property into a state-of-the-art intermodal freight center that will accommodate rail-to-freight shipments. MMGL representatives believe there is an unmet need for such a center in mid Michigan because of shipping constraints at freight facilities in Chicago and Detroit and at ports on the East and West coast. The company predicts that the center could create approximately 600 new jobs when completed.

“Our location near I-69 and I-75 has been identified as an ideal location for an intermodal facility in studies conducted in 1999 and 2001,” said Herman. “When we are successful with this project we will have made an important step in diversifying our economy.” Herman referenced a study done at the request of the Flint-Genesee Area Growth Alliance in 1999 and the 2001 Corradino Study commissioned by the Flint Area Chamber of Commerce, the State of Michigan and the Genesee County Metropolitan Planning Commission. Both studies concluded that the area could grow with the development of intermodal freight activities.

“While this first step is certainly good news, the community needs to understand that there is a significant amount of work to be done before the first shovel of dirt is turned on this project,” said Herman. “The process is in the hands of General Motors and MMGL. At the Genesee Regional Chamber of Commerce we will facilitate requests from MMGL for local and state economic development assistance.”

Mid Michigan Global Link was formed by several investors including, Vincent Campione, a supply chain expert; international trade and sourcing expert, Jeff Meyers and Security Packaging of Flint, MI. There will be significant investment in the project coming from outside the community and outside the state of Michigan. Mid Michigan Global Link has partnered with Guggenheim Franklin Park Investments, LLC, an investment company specializing in energy and transportation projects. An affiliate of Guggenheim Partners, LLC, Guggenheim Franklin Park is committed to becoming a major investor in the project via its operating company, Guggenheim Global Infrastructure,  pending due diligence.

MMGL projects an investment of approximately $25 million in the project.

For further information contact:
Stan Blood
810.600.1418
sblood@thegrcc.org