ANN ARBOR, Mich., Sept. 14 /PRNewswire/ — JAC Products, located in Saline, Mich., received high-tech, five-year MEGA tax credits today to fund expansion in the region. JAC Products, which also has a location in Shelby Township, Mich., was approved today for MEGA tax credits totaling $572,970 from the Michigan Economic Development Corporation and the State of Michigan.
“The expansion of JAC Products in the Ann Arbor region can be credited to the wealth of advanced manufacturing talent here that can and will support the company’s growth,” said Michael A. Finney, Ann Arbor SPARK president and CEO. “A highly-skilled workforce is a powerful catalyst to business attraction and expansion.”
JAC Products is a leading tier 1 manufacturer of functional exterior automotive trim. The company operates several locations in the United States as well as in Germany, Portugal, Brazil and the Czech Republic. In addition to automotive, JAC has a growing alternative energy business focused on a branded line of solar racking products as well as Lithium ion battery components.
JAC Products is in the process of designing and developing 11 new roof rack/ trim systems for Toyota, Ford, Chrysler, Nissan, Subaru, Honda and Hyundai. These products will launch from JAC Products’ Saline facility and be supported by its Shelby Township facility.
The tax credits will support an expansion of JAC Products’ current Saline facility by more than 30,000 sq. ft. Over the next five years, the company is projected to add 87 full-time employees to its current 412 employees. JAC Products’ total planned investment in its expansion project is $6.7 million.
The MEGA tax credits awarded to JAC Products encouraged the company to expand in Michigan over an existing operation in Franklin, Georgia.
ABOUT ANN ARBOR SPARK
About Ann Arbor SPARK Ann Arbor SPARK, a non-profit organization, is the driving force in establishing the Ann Arbor region as a destination for business expansion, retention, and location by identifying and meeting the needs of business at every stage, from startups to large organizations. Ann Arbor SPARK represents all communities in the Washtenaw County. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, Washtenaw Community College, Michigan Works!/ETCS, Washtenaw County, the City of Ann Arbor, the Bank of Ann Arbor and the Michigan Economic Development Corporation. For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.
Source: Ann Arbor SPARK
CONTACT: Elizabeth Parkinson, +1-734-761-9317
Web Site: http://www.annarborusa.org/