Innovation & Job News

MEDC deals spur $96.5M in investment, 269 jobs

Thursday, November 18, 2010

The latest round of tax incentives dished out by the Michigan Economic Development Corp are heavy on the automotive end again, scoring $96.5 million in new investment that should create 269 new jobs in Metro Detroit over the next five years.

At the top of the list are Bright Automotive's plans to establish an engineering center in Rochester Hills for its plug-in hybrid operations. The Indiana-based firm plans to spend $11 million to create the office that will hire 204 people over five years, including 111 in the first year. Bright Automotive has developed a 100-plus-mile-per-gallon, plug-in hybrid electric vehicle called the IDEA.

"We want to be able to grow and expand rapidly," says Michael Brylawski, executive vice president of Bright Automotive. "There is no better place to do that than in the Detroit area when you're talking about high-quality auto engineers."

Among the other tax incentive deals are:

- Chrysler is receiving a state tax credit valued at up to $10 million to invest $80 million in its Sterling Heights Assembly Plant, a move that should help retain 1,809 jobs. Chrysler also received a state tax credit worth up to $15 million annually over three years to house the engineering for the new City Electric hybrid plug-in vehicle at its Technology Center in Auburn Hills.

- Montaplast, a manufacturer of plastic injection molded products, plans to invest $2.3 million to move its research & development facilities from Southfield to a bigger space in Auburn Hills. The move is expected to create 25 jobs over the next five years.

- Toyota Boshoku America plans to consolidate and expand its prototype operations to a new facility in Novi. The $3.2 million investment will create 40 new jobs over the next five years.

Source: Michigan Economic Development Corp and Michael Brylawski, executive vice president of Bright Automotive
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Innovation & Job News

MEDC deals spur $96.5M in investment, 269 jobs

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