Demmer Invests $4.2 Million in Advanced Manufacturing Equipment
Capital Gains, 10/14/2009
Lansing-headquartered Demmer Corporation is investing $4.2 million in two new high-speed, five-axis precision machines for its Oakland Avenue operation. The new machines will allow the company to diversify and compete for work in the aerospace and commercial industries.
Demmer has already hired four operators for the machines, plus 82 other employees who were hired back after a recent layoff.
The privately-owned Demmer Corp. started 30 years ago in a partnership to make auto parts. But along the way, the company shifted to defense contracting. From August, 2006 to April, 2008, it grew from 300 people to 1,500. Now it occupies nine buildings in Lansing, Petoskey, Williamston and Delta Township and has 850 workers.
It is the company’s flexibility that has kept it in business, says Matt Heppler, general manager.
Today, less than one percent of Demmer’s business is auto-related, and 80 percent is defense related. In the next three to five years, it plans to reduce its military work to 60 percent, and add aerospace, energy, transportation and other commercial work.
For now, the company is mainly in the military vehicle parts business. The televised images of Saddam Hussein’s statue coming down in Baghdad, Iraq, captured an M88 Hercules “recovery vehicle.” Its outer skin was produced by Demmer. Armour component kits with brackets and fasteners are prepared so military units can “up-armour” vehicles in the field.
“I could dazzle you with robotics” and other whiz-bang stuff, says Heppler, but the important thing about Demmer is that it employs nimble systems within a strong infrastructure. It also trains and retrains its employees through a certification program with Lansing Community College.
“We’re a demonstration of the culture of the Capital region with our ‘Can Do’ attitude. We’re a model for the region,” says Heppler.
Source: Matt Heppler, Demmer Corporation
Gretchen Cochran, Innovation & Jobs editor, may be reached here.
Wednesday, October 14, 2009
Tuesday, October 06, 2009
$8,000 Tax Credit for First Time Homebuyers
$8,000 Tax Credit for First Time Homebuyers
Note: This is intended to provide an overview only – for specific information or individual concerns, please contact your lawyer, accountant and/or financial advisor.
Congress has recently passed a federal income tax credit for first-time homebuyers that is the lesser of either 10% of the home’s cost or $8,000.
This will be available to qualified first-time home buyers for the purchase of a principal residence between January 1, 2009 and before December 1, 2009.
For example:
•The tax credit is available for first-time homebuyers or those who have not owned in the last three years.
•The credit does not require repayment (unlike the 2008 iteration of the credit). The credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded.
•If the home is sold within three years of purchase, the entire amount of credit is recaptured on sale.
This measure can help to significantly lower housing inventory, bring stability to home values and move the country closer to economic recovery. Many industry experts have said that the tax credit for first time homebuyers could result in up to 300,000 additional home purchases each year.
The following chart provides more information:
FEATURE
FIRST-TIME HOMEBUYER FEDERAL INCOME TAX CREDIT:
EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009
Amount of Credit
The amount of the homebuyer federal income tax credit is the lesser of 10% of the cost of the home bought or $8,000.
Eligible Property
Any single-family residence (including a condo, co-op, or townhouse) may be an eligible property under the homebuyer income tax credit, provided it will be used as the homebuyer’s principal residence.
Refundable
This homebuyer income tax credit reduces income tax liability. The $8,000 tax credit is a clean refundable credit, unlike the one that was passed last summer, which required a repayment. If you qualify as a first-time buyer (i.e., haven't been a homeowner in the past 3 years), then you can claim the $8,000 to reduce your tax burden. If the $8,000 is greater than the tax you owe, then you will get a refund check for the difference. Example: you owe $2,000 in taxes on April 15, 2010. But if you bought a home before the stimulus expiration on Dec. 1, 2009, then you will get a tax refund check for $6,000 from the IRS.*
Income Limit
In order to be eligible for the homebuyer income tax credit in full, the homebuyer can have an annual adjusted gross income of no more than $75,000 ($150,000 on a joint return). A homebuyer with an annual adjusted gross income above that level and up to $95,000 ($170,000 on a joint return) is eligible for a reduced tax credit.
First-time Homebuyer Only
The homebuyer income tax credit is designed for first-time homebuyers, which means the homebuyer (and/or the homebuyer’s spouse) can not have owned a principal residence in the 3 years prior to purchase of the eligible property.
Revenue Bond Financing
A homebuyer who utilizes revenue bond financing may be eligible for the homebuyer income tax credit.
Repayment
There is no repayment of the homebuyer income tax credit by the homebuyer.
Recapture
However, if the eligible property is resold within three years of purchase, the entire amount of homebuyer income tax credit is recaptured on the sale.
Effective Date
The First-Time Homebuyer Federal Income Tax Credit is effective for purchases on or after January 1, 2009 and before December 1, 2009. This guide reflects a modification from the First-Time Homebuyer Federal Income Tax Credit, which remains in effect for homes purchased by eligible homebuyers between April 9, 2008 and Dec. 31, 2008.
Information courtesy of http://www.realtor.org and http://www.whitehouse.gov
Note: This is intended to provide an overview only – for specific information or individual concerns, please contact your lawyer, accountant and/or financial advisor.
Congress has recently passed a federal income tax credit for first-time homebuyers that is the lesser of either 10% of the home’s cost or $8,000.
This will be available to qualified first-time home buyers for the purchase of a principal residence between January 1, 2009 and before December 1, 2009.
For example:
•The tax credit is available for first-time homebuyers or those who have not owned in the last three years.
•The credit does not require repayment (unlike the 2008 iteration of the credit). The credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded.
•If the home is sold within three years of purchase, the entire amount of credit is recaptured on sale.
This measure can help to significantly lower housing inventory, bring stability to home values and move the country closer to economic recovery. Many industry experts have said that the tax credit for first time homebuyers could result in up to 300,000 additional home purchases each year.
The following chart provides more information:
FEATURE
FIRST-TIME HOMEBUYER FEDERAL INCOME TAX CREDIT:
EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009
Amount of Credit
The amount of the homebuyer federal income tax credit is the lesser of 10% of the cost of the home bought or $8,000.
Eligible Property
Any single-family residence (including a condo, co-op, or townhouse) may be an eligible property under the homebuyer income tax credit, provided it will be used as the homebuyer’s principal residence.
Refundable
This homebuyer income tax credit reduces income tax liability. The $8,000 tax credit is a clean refundable credit, unlike the one that was passed last summer, which required a repayment. If you qualify as a first-time buyer (i.e., haven't been a homeowner in the past 3 years), then you can claim the $8,000 to reduce your tax burden. If the $8,000 is greater than the tax you owe, then you will get a refund check for the difference. Example: you owe $2,000 in taxes on April 15, 2010. But if you bought a home before the stimulus expiration on Dec. 1, 2009, then you will get a tax refund check for $6,000 from the IRS.*
Income Limit
In order to be eligible for the homebuyer income tax credit in full, the homebuyer can have an annual adjusted gross income of no more than $75,000 ($150,000 on a joint return). A homebuyer with an annual adjusted gross income above that level and up to $95,000 ($170,000 on a joint return) is eligible for a reduced tax credit.
First-time Homebuyer Only
The homebuyer income tax credit is designed for first-time homebuyers, which means the homebuyer (and/or the homebuyer’s spouse) can not have owned a principal residence in the 3 years prior to purchase of the eligible property.
Revenue Bond Financing
A homebuyer who utilizes revenue bond financing may be eligible for the homebuyer income tax credit.
Repayment
There is no repayment of the homebuyer income tax credit by the homebuyer.
Recapture
However, if the eligible property is resold within three years of purchase, the entire amount of homebuyer income tax credit is recaptured on the sale.
Effective Date
The First-Time Homebuyer Federal Income Tax Credit is effective for purchases on or after January 1, 2009 and before December 1, 2009. This guide reflects a modification from the First-Time Homebuyer Federal Income Tax Credit, which remains in effect for homes purchased by eligible homebuyers between April 9, 2008 and Dec. 31, 2008.
Information courtesy of http://www.realtor.org and http://www.whitehouse.gov
Friday, October 02, 2009
Coldwell Banker President & CEO in DC today!
JIM GILLESPIE
President & CEO
COLDWELL BANKER REAL ESTATE LLC
1 CAMPUS DRIVE
PARSIPPANY, NJ 07054-0642
BUS. (973) 407-5346
FAX (973) 407-7217
jimr.gillespie@coldwellbanker.com
October 2, 2009
Dear Coldwell Banker® Brokers/Owners:
Earlier today, Bob Hamrick, president and chief executive officer of Coldwell Banker Premier in Las Vegas, and I met with Senate Majority Leader Harry Reid in his office at the U.S. Capitol Building. We spent nearly 30 minutes with the Senator and his staff discussing the state of the housing industry and the importance for Congress to extend and expand the first-time homebuyer tax credit.
While the Senator admitted that he is spending a great deal of time on the health care issue, I can tell you that he is very much aware of the critical role housing plays in the U.S. economy. Bob and I spoke with him about the impact the $8,000 tax credit has had with first-time homebuyers and how important it is to continue the program beyond the November 30 deadline. We also explained that a further tax credit for all buyers is necessary to impact the move-up buyer and explained that the government’s investment in housing would be recouped by the approximately $63,000 that returns to the local economy with every home sale.
This meeting was another positive step for our industry and showcases the power of our great Coldwell Banker brand. We owe a big debt of gratitude to Bob for arranging this meeting and taking the time from his schedule to be in DC today. Because of the size and scope of our great Coldwell Banker brand and Bob’s standing in the Las Vegas and Nevada business community, the Senator was open to meeting with us.
I urge you to continue to be aggressive with your state’s Congressional delegation and U.S. Senators and urge them to recognize how important housing is to our nation’s economy. If you need any help on your outreach or want me to join you at a meeting, please do not hesitate to call or email.
Thanks again to Bob for his efforts and I look forward to seeing you in Los Angeles on October 12 for the annual Global Management Summit.
Regards,
Jim Gillespie
©2009 Coldwell Banker Real Estate LLC. All rights reserved. ®, TM and SM are licensed trademarks to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each office is independently owned and operated. Coldwell Banker Real Estate LLC One Campus Drive, Parsippany, NJ 07054
President & CEO
COLDWELL BANKER REAL ESTATE LLC
1 CAMPUS DRIVE
PARSIPPANY, NJ 07054-0642
BUS. (973) 407-5346
FAX (973) 407-7217
jimr.gillespie@coldwellbanker.com
October 2, 2009
Dear Coldwell Banker® Brokers/Owners:
Earlier today, Bob Hamrick, president and chief executive officer of Coldwell Banker Premier in Las Vegas, and I met with Senate Majority Leader Harry Reid in his office at the U.S. Capitol Building. We spent nearly 30 minutes with the Senator and his staff discussing the state of the housing industry and the importance for Congress to extend and expand the first-time homebuyer tax credit.
While the Senator admitted that he is spending a great deal of time on the health care issue, I can tell you that he is very much aware of the critical role housing plays in the U.S. economy. Bob and I spoke with him about the impact the $8,000 tax credit has had with first-time homebuyers and how important it is to continue the program beyond the November 30 deadline. We also explained that a further tax credit for all buyers is necessary to impact the move-up buyer and explained that the government’s investment in housing would be recouped by the approximately $63,000 that returns to the local economy with every home sale.
This meeting was another positive step for our industry and showcases the power of our great Coldwell Banker brand. We owe a big debt of gratitude to Bob for arranging this meeting and taking the time from his schedule to be in DC today. Because of the size and scope of our great Coldwell Banker brand and Bob’s standing in the Las Vegas and Nevada business community, the Senator was open to meeting with us.
I urge you to continue to be aggressive with your state’s Congressional delegation and U.S. Senators and urge them to recognize how important housing is to our nation’s economy. If you need any help on your outreach or want me to join you at a meeting, please do not hesitate to call or email.
Thanks again to Bob for his efforts and I look forward to seeing you in Los Angeles on October 12 for the annual Global Management Summit.
Regards,
Jim Gillespie
©2009 Coldwell Banker Real Estate LLC. All rights reserved. ®, TM and SM are licensed trademarks to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each office is independently owned and operated. Coldwell Banker Real Estate LLC One Campus Drive, Parsippany, NJ 07054
13808 McCrumb Rd, Eagle, MI | Powered by Postlets
Take a tour of this Goregous home on The Lookingglass River.
13808 McCrumb Rd, Eagle, MI | Powered by Postlets
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13808 McCrumb Rd, Eagle, MI | Powered by Postlets
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