Crain’s Detroit Business
A Southfield-based investment company was awarded a $500,000 state incentive Wednesday to entice it and its subsidiaries to consolidate Ohio and New Jersey offices in Michigan.
Nemo Capital Partners LLC will bring 125 jobs to Southfield, where the company will be located at 2000 Town Center, Suite 170 and 28819 Franklin Road.
Nemo’s award was one of three announced Wednesday by the Michigan Economic Development Corp., with other projects choosing sites in Port Huron and Cass City.
“Today’s investments offer further evidence of Michigan’s improving economy and the success of our strategy to help companies grow and add jobs here.” MEDC President and CEO Michael Finney said in a statement. “These projects all mean more jobs and greater economic opportunities for people across Michigan.”
Nemo, a privately held investment company, and its subsidiaries, TRAKnet PM LLC, TRAKnet RCM LLC, Collaborative Practice Solutions LLC, Darena Solutions LLC, Build Your EMR LLC, Smart Sheet 10 LLC and Direct EMR LLC, work as one operation with a portfolio of health care holdings, according to a briefing memo.
Their holdings focus on technological products and services to challenges distributors and physicians face; their products range from electronic health records to consulting.
NEMO has eight employees in the state and the incentive was needed, the MEDC said, because the company had its smallest footprint here, making it the easiest to move if the company wanted to consolidate in another state where it already had operations.
The consolidation will be phased in over a three-year period.
The company plans to invest about $2.2 million to complete the move and build its headquarters. The city provided an EPA assessment grant, and the City Council is considering a three-year personal property tax abatement.
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