Michigan Strategic Fund Incentives Spark Business Investment
“Today’s actions mean good-paying jobs for Michigan families,” said Governor Rick Snyder. “These new investments in our state will strengthen our communities, spur new commercial investment in our cities and fuel new opportunities for our talented workforce.”
Projects awarded incentive grants include;
Brose New Boston, Inc., part of the Brose Group and leading manufacturer of electric motors and mechatronic systems for vehicle doors, lift gates and seat structures was awarded a state Business Development Grant.
Brose North American Headquarters is located in Auburn Hills with two plants in Warren and New Boston – Huron Charter Township. Due to new business, Brose will grow its Huron Charter Township, City of Warren and City of Auburn Hills facilities, investing up to $97.6 million and creating 475 jobs.
As a result, the company has been awarded a $4.25 million Michigan Business Development Program performance-based grant. Michigan was chosen for this business over competing sites, including Mexico. Huron Charter Township is offering support to the project in the form of a 12-year property tax abatement valued at $3.5 million.
Another incentive grant was awarded to The Paslin Company, which is based in Warren, Michigan, and designs, assembles, and integrates robotic assembly lines for Tier 1 and OEM automotive companies.
The company plans to construct a new facility in Shelby Township and expand its three current facilities in the City of Warren, investing more than $20.6 million and creating 224 new jobs.
As a result, the company has been awarded a $1.7 million Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Alabama, Tennessee and Washington. The City of Warren and Shelby Township are offering support to the project in the form of property tax abatements.
In addition, MSF awarded $1.9 million in Community Development Block Grant funds to the Charter Township of Watervliet for the Lane Automotive Inc. expansion project.
Lane Automotive, a supplier of performance parts and accessories for race cars, hot rods, trucks, and off-road vehicles, has outgrown its current facility and plans to expand operations at its current facility. The CDBG funds will be used toward on-the-job training for 138 new employees at the new site. The company has agreed that at least 70 of the positions will be held by individuals with low to moderate incomes. As an additional incentive, Watervliet Charter Township will reduce permitting fees of up to $10,000 for the project.
How are Uncertain Times Altering Company Location Strategies?
Infrastructure Investment as an Economic Stimulus Tool
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row