Michigan Economic Development Corp. today announced three business expansions that it projects will generate nearly $29.8 million in total investment and create 148 jobs statewide. All three projects received Michigan Strategic Fund approval.
Novi-based Yanfeng Automotive Group, a large supplier of instrument panels and cockpit system, door panels, consoles, overhead consoles, lighting, and decorative trim, was awarded a $600,000 Michigan Business Development Program performance-based grant. The company was established in 2015 as a joint venture between Yanfeng Automotive Trim Systems Co. and Adient. Yanfeng Automotive Interiors plans to establish a headquarters and technical center for instrument panel engineering and testing in Novi. The company plans to invest $8.5 million and create 60 jobs at the new facility.
Kerkstra Precast, Inc. received a $300,000 performance-based grant for its plan to expand an existing facility in Trenton, following the recent acquisition of a large customer. The structural and architectural company offers a variety of products to commercial, industrial, and residential companies. Kerkstra Precast says it will invest more than $16.2 million and creating 50 jobs.
As a storage products industry leaders for over 55 years, Speedtracks Products Group plans to add to its manufacturing capacity by purchasing a facility in Litchfield (near Hillsdale). The company plans to invest more than $5 million and create 38 jobs. The single-source supplier of pallet racking and storage systems was awarded a $228,000 performance-based grant to assist with infrastructure upgrades and the purchase of new equipment. Michigan was chosen over competing sites in Ohio and Indiana for this project.
“Today’s actions offer further evidence of our commitment to help companies grow and generate new job opportunities for Michigan residents,” says Steve Arwood, MEDC’s CEO. “These investments will all lead to greater economic opportunities for Michigan residents, drive future business investment, and create more and better jobs.”