AGS Automotive Systems, a manufacturer of automotive bumper systems, will expand production in Sterling Heights, Michigan, with a project that will generate up to $21.2 million in new private investment and create up to 90 new jobs.
"AGS plays an important role in our automotive supply chain and its decision to expand here demonstrates that Michigan is a great place to do business," said Michigan Economic Development Corporation President and CEO Michael A. Finney. "This new investment shows Michigan's highly competitive business climate and world class workforce mean real opportunities for leading edge companies."
AGS Automotive was awarded a $900,000 Michigan Business Development Program incentive to expand its Sterling Heights operations. AGS proposes to invest up to $21.2 million to secure and upgrade an existing vacant building in Sterling Heights, creating up to 90 new jobs as a result of the project. In addition, the City of Sterling Heights has offered the firm a tax abatement.
"When AGS considered alternate sites for an expansion of its footprint, MEDC, through the Michigan Strategic Fund, demonstrated leadership through its continued commitment to the automotive industry, said AGS Co-President Joe Leon. "This was very important to us."
"MEDC's seamless approach to providing state, county and city support and its tremendous responsiveness in providing that support was a key element in AGS choosing Michigan as the place to undertake a major expansion," said fellow AGS Co-President Joe Loparco.
Signed into law by Governor Rick Snyder in December, the Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.