C3 Venture Flint To Assemble Automotive Parts In Flint, Michigan
“The investment approved today will bring up to 400 new jobs to Flint, in an innovative venture that turns recycling into auto parts,” said Governor Rick Snyder. “The state will continue to support the city during its water recovery, and in addition will remain involved in long-term economic development. I’m very pleased to see this manufacturing plant established within the city, and hope it is the first of many new employers to invest in Flint.”
According to the Governor’s office, after a review of competing locations C3 Venture, and its China-based sister company CT Automotive, chose Flint for its investment which will include the hiring of 380 workers. Michigan Strategic Fund will provide a $5.7 million performance-based loan to the company, which may be converted to a grant if the company meets job-creation milestones.
The state’s efforts to become a leader in the mobility industry also moved forward, with a $17 million investment approved for the American Center for Mobility, the Governor’s Office said. The investment will finalize the acquisition of land at Willow Run, assist with operations, and facilitate the design and construction of phase one of a state-of-the-art global center for research, development and testing for automated vehicles.
“We are making a major commitment to the next chapter of the state’s legendary automotive history,” Snyder said. “In the next decade, Michigan will be in the international forefront in responding to the opportunity to reimagine transportation, an unfolding world of autonomous vehicles that requires collaboration among private industry, academia and government.”
The investment includes covers design and certain construction costs and operations that are part of the project’s high speed track, the first phase of development. The latest funding comes after a $1.2 million purchase agreement was reached on July 5, 2016 between the Willow Run Arsenal of Democracy Landholdings Limited Partnership and Racer Properties LLC, wholly owned by the Revitalizing Auto Communities Environmental Response Trust (RACER). The project is a collaboration with many state and local partners including the Michigan Economic Development Corporation, the Michigan Department of Environmental Quality, and the Michigan Department of Transportation.
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