Three companies plan to generate nearly $27.6 million in new capital investment and create 494 jobs throughout the state with incentive support from Michigan’s Strategic Fund.
“Michigan is the number-one state for creating new manufacturing jobs, and these new expansions demonstrate that our economic climate is more business-friendly than ever and our manufacturing talent pool can compete with any place in the world,” said Michigan Economic Development Corporation President and CEO Michael A. Finney. “These projects all mean more jobs and greater economic opportunities for people across Michigan.”
The Michigan Strategic Fund approved incentives for the following projects:
Advance Engineering Company is a metal stamping and plastic thermoform company headquartered in the City of Redford with locations throughout Ohio and Michigan. The company plans to consolidate its metal divisions from Ohio and Redford and locate the operations in a newly acquired building in Canton Charter Township.
The project will generate up to $6.5 million in total capital investment and create 150 new jobs, resulting in a $400,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Ohio. Canton Charter Township has proposed a 10-year property tax abatement valued at $80,000.
Magna Exteriors and Interiors USA, Inc., DBA Magna Interior Trim Components, is a subsidiary of Magna International, Inc. In 2010, Magna Interior Trim acquired Continental Plastics Co., an automotive interior components parts supplier with facilities in China and Benzonia Township. Magna Interior Trim acquired two new contracts to supply door trim molded parts and sub components.
The company plans to expand in both locations, investing a total of $3.6 million and creating 274 jobs. As a result, the project has been awarded an $822,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in multiple states. Both China Township and Benzonia Township have offered support to the project in the form of property tax abatements.
The MANN+HUMMEL Group is a leading global expert for filtration solutions and development partner and original equipment supplier to the international automotive and mechanical engineering industries. The company won new business requiring additional manufacturing space, and is considering expanding its existing operations in the City of Portage.
The project will generate up to $17.4 million in new investment and create 70 new jobs, resulting in a $325,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Tennessee. The City of Portage has offered support to the project in the form of a property tax abatement.