Six Foreign-Based Firms Plan $196.4 Million In Business Investments Throughout Michigan
“Our efforts to improve Michigan’s business climate have now made our state a desirable location for new investment from companies around the world,” Governor Rick Snyder said. “When I meet with companies on our trade missions, they are impressed with the strength of our economic comeback and our abundant talent. These investment missions have opened doors that had been previously closed and refreshed long-standing business relationships with business leaders in other countries.”
The six expansions in Michigan come from four countries visited by Snyder on trade missions since 2011.
“It is heartening to see solid results from our meetings with company executives in their homelands if not their home offices,” said Michael Finney, Michigan Economic Development Corporation President/CEO. “This one week’s announcements show what comes from making significant structural changes to improve our business climate and our aggressive pursuit of new business opportunities.”
The six projects resulting from Snyder’s investment missions are:
Italy-based Brugola OEB Industriale S.p.A will invest $19.6 million in a new facility that will create up to 58 new jobs in Plymouth. The company, which currently employs 13 people in a logistics and warehouse facility in Canton, manufactures automotive powertrain and engine fasteners that are used in one of every four vehicles in the world.
Germany-based the Eissmann Group Automotive will invest $13.55 million to establish its North American headquarters and a new manufacturing facility that will create 233 jobs in Port Huron. The German supplier of leather interiors for high-end vehicles was approved for a Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Ohio and Indiana.
One of two China-based firms, H.A. Automotive Systems Inc. will invest $28.8 million and creating 368 jobs in Troy. The North American subsidiary of Shanghai Changhui Industry Development Company Ltd., an automotive lighting components supplier established is headquartered in Shanghai, China. The company has secured new contracts to supply North American automotive OEMs and plans to purchase a building in Troy to establish a headquarters, manufacturing, and R&D facility. Michigan was chosen over competing sites in several southern states.
Also from China, YanFeng USA Automotive Trim Systems, Inc. will invest up to $56.2 million and creating 519 jobs by expanding its current manufacturing facility in Harrison Township. The Tier 1 Automotive plastics interior trim supplier for major OEMs in North America has facilities in Warren, Harrison Township and Missouri.
The company was previously awarded a Michigan Economic Growth Authority Board seven-year Standard MEGA Tax Credit to purchase its facility in Harrison Township and create 131 jobs. Since then the company has been awarded multiple new contracts to manufacture center consoles, door panels and instrument panels for several automotive OEMs.
Canadian-based Magna Exteriors and Interiors USA Inc., and DBA Magna Interior Trim Components, is a subsidiary of Magna International in Aurora, Ontario. Magna Interior Trim received an $822,000 Michigan Business Development Program performance-based grant in January for expansions to facilities in China Township in St. Clair County and Benzonia Township in Benzie County which were expected to generate new investment of $3.6 million and create 274 jobs. The company has since created the 274 positions and experienced additional growth that requires an additional 169 employees, receiving a grant increase of $513,000.
Another Italy-based firm, Brembo North America Inc. will invest $78.4 million while creating 254 jobs in Albion Township. The company is the largest wholly owned subsidiary of Brembo S.P.A, a world leader of brake systems for automobiles. Brembo North America, with headquarters and tech center located in Plymouth, plans to construct an industrial facility in Albion Township in Calhoun County to produce brake rotor castings.
“Investment missions are giving us the chance to tell Michigan’s comeback story around the globe,” Snyder said. “International companies are now considering Michigan as a prime location for their United States investments and that shows how far we have come.”
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