Tool manufacturer American Broach is investing $25 million in Ypsilanti, Michigan, in an expansion that will create up to 43 jobs, AnnArbor.com reports. The company is now seeking state and local tax incentives to fund the construction of a new research and development center, company President Ken Nemec said.
"We lead the world in gearing systems," Nemec said. "It would be better to do it all in one facility.The demand is tremendous and growing."
Nemec asked the Michigan Economic Growth Authority this morning for a state tax credit of more than $572,780 towards the expansion. The Ypsilanti City Council will additionally consider real and personal property tax abatements at a meeting tonight.
American Broach makes cutting machines to produce gears, the majority of which are destined for the auto industry. It also supplies the defense and agricultural sectors.