Second Quarter 2011 Auto Owners named to Fortune 500 list Auto Owners is ranked number 425 on the Fortune 500 list of America’s largest corporaons. This is the ninth straight year Auto Owners has made the Fortune 500 list. Auto Owners was also ranked among the 20 largest Michigan- based companies. The company remains the second largest property and casualty mutual insurance company in the United States based on their 2010 revenue. Twenty- two Michigan companies made this year’s Fortune 500 list, four more than the 2010 list. Niowave grows with Department of Energy contracts Niowave has expanded to triple their size through the Small Business Res earch Innova on progr am. The company has received $5.3 million in funding through federal research and development program con tracts. Niowave C OO, Jerry Hollister, believes the contracts with the Department of Energy have given his company credibility and more opportunies. MSU Federal Credit Union new Bath locaon Construcon on Michigan State University Federal Credit Union’s North Marsh Branch in Bath Township began in late June. The new locaon will be a full service branch with drive-up teller and A TMs. The branch is expected to be comp leted in summer 2012 and cost $3.8 million. Granger Construcon is managing the project for MSUFCU. The newest branch will be 7,800 square feet and employ 12 to 15. Michigan Leads the Country in Economic Growth Michigan has an economic growth rate higher than the naonal average at 2.9 percen t. The recession in Michigan is ocially over, with the growth rate being the highest since 2002. The auto industry is responsible for 1.47 percent of the economic growth in 2010 along with the diversicaon of the economy in Michigan. The increased growth is esmated to connue for the next 3 years. Christman Company awarded BWL Energy Plant project Lansing based Christman Company was named general contractor for the new Board of Water and Light power plant. The new BWL power plant will replace the exisng Moores Park Plant in REO Town. The new plant will cost $182 million to build and will use natural gas instead of burning 139,000 tons of coal each year, reducing gas emissions by 50 percent. Construcon will employ approximately 200 workers when it begins in late summer. MSU and LinkedIn create rst me partnership Michigan State University and LinkedIn have an ocial and rst me partnership. LinkedIn, the world’s largest online professional network, will team up with MSU to help improve LinkedIn’s worth for students and alumni. The partnership will help LinkedIn gain feedback about new features and MSU’s alumni group, one ofthe largest on LinkedIn, will benet from receiving training on the new features. MBI new partnership with Department ofEnergy Grant Michigan Biotechnology Instute has been granted $4.3 million as part of Obama’s Administraon to cut foreign oil imports. The Department of Energy aims to improve the economic and eciency of biological and chemical processes that convert non-food biomass feedstocks into replacement for petroleum-based feedstock s, prod ucts, and fuel. MBI will focus on impro vements to a pre treatment pr ocess. This process provides a stable, conversion-ready intermediate ofconsistent quality at a cost and in a format compable with long-term storage and ease of transfer between mulple modes of transportaon.
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