With $2.3 Million in State Aid, Molina Healthcare Adding 462 Jobs in Metro Detroit

Posted on April 23, 2014

DETROIT, MI – Molina Healthcare of Michigan is adding 462 new jobs in Metro Detroit as part of a $20.3 million capital investment, the Michigan Economic Development Corporation announced Tuesday.

The company, a subsidiary of Long Beach, Calif.-based Molina Healthcare, Inc., plans to expand at its Midwest headquarters in Troy while also leasing office space in downtown Detroit.

With the expansion, the state has agreed to give the company a $2,296,000 performance-based grant. The MEDC said the company’s Michigan expansion was chosen over competing sites in Kentucky, Texas, Florida and Arizona.

The Fortune 500 parent company, which trades on the New York Stock Exchange under the “MOH” ticker, administers Medicaid-related healthcare plans to low-income families and individuals. The company has licensed health plans in California, Florida, Illinois, Michigan, New Mexico, Ohio, South Carolina, Texas, Utah, Washington, and Wisconsin, and about 2.1 million customers.

“Michigan’s healthcare industry is growing and recognized across the country, and Molina Healthcare’s decision to expand here underscores Michigan’s business-friendly environment and talented workforce,” Gov. Rick Snyder said in a statement. “Molina’s investment and the jobs it will generate demonstrate that reforms to our business climate and our state’s world-class talent are now putting Michigan at the top of the nation’s best places to locate, expand and grow new jobs.”

In addition to the state aid, the cities of Troy and Detroit are also offering local support, the MEDC said.

Molina Healthcare, Inc.’s revenues grew 11 percent to $6.6 billion in 2013. The company’s net profit was $44.8 million in 2013, compared to net income of $12.9 million in 2012.