Hybrid, hybrid, hybrid. It's the new it
technology that is the envy of the automotive world and is turning into a cash
cow for southeast Michigan.Ricardo,
a tech firm with a special focus on developing battery systems for hybrid and
electrical cars, plans to invest more than $2 million to create a Battery Systems Development
Center in Van Buren
Township where the company has its North American headquarters and already employs more than 200 people.
The investment includes refurbishing space at the company's building where it has been for 14 years. The new center is expected to create 32 jobs and another 16 spin-off jobs.
"There's
no question that southeast Michigan is the nerve center of advanced
research and development for the automotive industry," says Dean Harlow, president of Ricardo. "Ricardo
considered our locations world wide before determining the U.S. was the
most advantageous to invest in this technology. A detailed assessment
was performed between our Chicago and Detroit facilities, both of which
had different advantages and disadvantages. The Michigan Economic
Development Corporation and Van Buren Township worked hard to make it
attractive to bring these additional jobs to Michigan, and we really
appreciate their support in making this decision."
The center will focus on developing battery
packs for cars. No stretch for Ricardo, which specializes in eco-innovation.
For example, the firm works to lower emissions while making vehicles more fuel
efficient.
The Michigan Economic Development
Corporation gave Ricardo a $991,000 state tax credit that will last the next
10 years. That incentive, along with a $75,000 tax credit from Van Buren
Township, helped persuade Ricardo to choose Metro Detroit over another site in Chicago where it has a technical center.
Source: Michigan Economic Development Corporation and Ricardo
Writer: Jon Zemke
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