LANSING — Three companies will be expanding and adding jobs in Michigan with support from the Michigan Strategic Fund, according to the Michigan Economic Development Corp.. The expansions are expected to generate nearly $27.6 million in new capital investment, and bring 494 new jobs in Michigan
The Michigan Strategic Fund approved incentives for the following projects:
Advance Engineering Co. is a metal stamping and plastic thermoform company headquartered in Redford with locations throughout Ohio and Michigan. The company plans to consolidate its metal divisions from Ohio and Redford, and locate the operations in a newly acquired building in Canton. The project will generate up to $6.5 million in total capital investment, and create 150 new jobs, resulting in a $400,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Ohio. Canton has proposed a 10-year property tax abatement valued at $80,000.
Magna Exteriors and Interiors USA Inc., DBA Magna Interior Trim Components is a subsidiary of Magna International Inc. In 2010, Magna Interior Trim acquired Continental Plastics Co., an automotive interior components parts supplier with facilities in China Township in Saint Clair County and Benzonia Township in Benzie County. Magna Interior Trim has acquired two new contracts to supply door trim molded parts and sub components. The company plans to expand in both locations, investing a total of $3.6 million, and creating 274 jobs. The project has been awarded an $822,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in multiple states. Both China Township and Benzonia Township have offered support to the project in the form of property tax abatements.
The MANN+HUMMEL Group is a source for filtration solutions and a development partner and equipment supplier to the international automotive and mechanical engineering industries. The company has won new business, requiring additional manufacturing space, and is considering expanding its existing operations in Portage near Kalamazoo. The project will generate up to $17.4 million in new investment, and create 70 new jobs, resulting in a $325,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Tennessee. Portage has offered support to the project in the form of a property tax abatement.