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HOWELL TOWNSHIP, MI-A $7-million tax-exempt bond has been issued to help finance the expansion of Ideal Steel and Builders Supplies. The bonds will be used for financing the acquisition of land, the rehabilitation of an existing 123,580-sf manufacturing facility and construction of an approximately 10,000-sf addition to the facility.

The project, which will create more than 20 new jobs, will be owned by Quatros Amigos LLC and leased to Ideal Steel, which fabricates steel primarily for the automotive and buildings industries.

The company is using a state-provided industrial development revenue bond, which are used to finance projects for manufacturers, solid waste, cogeneration companies and nonprofit corporations. The interest is tax-exempt.

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