In 2006, Governor Granholm introduced a low interest loan program along with Charter One Bank to encourage companies to grow jobs in Michigan. U.S. Farathane, a Sterling Heights-based company that designs highly-engineered plastic injection molded components for the automotive industry, used the loan to grow its operation in Michigan.  The company used a $6 million below-market business loan for an expansion that will create 150 new jobs at multiple locations throughout the state.