China-Based STEC USA To Establish Manufacturing Center In Madison Heights, Michigan
11/24/2014
According to the Michigan Economic Development Corporation, the expansion is expected to generate $15 million in new private investment and add 176 new jobs. The company plans to establish a new headquarters and manufacturing operations in an existing facility in Madison Heights. The operations will include research and development, warehousing and assembly in addition to manufacturing window regulator components.
A wholly owned subsidiary of Shanghai SIIC Transportation Electric Co., which is a subsidiary of China’s largest automotive OEM Shanghai Automotive Industry Corporation, STEC produces power window regulators, electronic horns and other electronic parts for China’s auto industry.
“STEC USA’s decision to establish its North American headquarters in Michigan tells global companies that Michigan holds great opportunities for growing their business,” said MEDC President/CEO Michael A. Finney. “Michigan leads the country in new manufacturing jobs creation, and the new jobs resulting from this investment will keep us moving in the right direction.”
The project will generate a total capital investment of nearly $15.1 million and create 176 jobs, resulting in a $700,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Missouri. In addition, the City of Madison Heights has offered support to the project in the form of locally established programs including “I-Connect” and/or the use of local brownfield grant funds.
Article Discussion
Most Read
- Why Top Consulting Firms Are Choosing This Location
- Front Line: Construction Industry Faces a Labor Shortage
- 32nd Annual Corporate Survey & the 14th Annual Consultants Survey
- The Importance of FDI to the U.S. Economy
- Front Line: Attracting Companies in Emerging Industries
- Tax Reform Through the Eyes of a Design-Build CEO
- First Person: Disruptive Technologies Changing the Business Landscape
SPECIAL PRESENTATIONS
-
West Coast "Tech" Cities Top List, Smaller MSA's Show Workforce Chops
-
2017 Gold & Silver Shovel Awards Recognize States Compiling Healthy Rosters of New and Expanded Facilities
-
2017 Top States for Doing Business: Georgia Ranks #1 Fourth Year in a Row
-
31st Annual Survey of Corporate Executives: Confidence in U.S. Economy, Need for Investment in Infrastructure Reflected