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.
Most Read
-
-
What’s Driving Record Industrial Real Estate Demand
Q1 2021
-
Life Sciences Fueling Construction Demand
Q2 2021
-
35th Annual Corporate Survey: Effects of Global Pandemic Reflected in Executives’ Site and Facility Plans
Q1 2021
-
Mitigate the Risks of Supply Chain Disruption
Q2 2021
-
Challenges of Moving Manufacturing Out of China
Q1 2021
-
Front Line: Infrastructure Upgrades Vital to U.S. Economy
Q2 2021