Tuesday, October 17, 2006
Michael Shore, MEDC
Auto Supplier Chooses Michigan for Capital Investment, Job Creation
Governor Jennifer M. Granholm today announced that Toronto-based AGS Automotive Systems (AGS) plans to invest in capital and equipment to expand its automotive parts assembly and other manufacturing capabilities by reopening a facility in Sterling Heights. The project will create 242 new jobs, including 130 directly by the company. Assistance offered through the Michigan Economic Development Corporation helped convince the company to choose Michigan over other competing international sites.
An economic analysis conducted by the MEDC estimates that increased economic activity created by the expansion will generate an additional 112 indirect Michigan jobs, in addition to the 130 created directly by the company. The project is expected to generate more than $56 million in personal income for Michigan workers over the life of the tax credit.
The AGS expansion is one of 14 economic development projects the Governor announced today. In all, they are expected to create and retain a total of 8,572 Michigan jobs.
Established in 1947, AGS is a full service automotive supplier employing more than 1,000 at six North American locations in Canada and the United States. The company specializes in bumper assemblies, with capabilities that include stamping, plating, painting, plastics, sequencing and assembly. AGS customers include General Motors, DaimlerChrysler and Delphi. The company currently has 52 employees at its facility in Troy. AGS reported $320 million in sales revenue in 2005.
AGS Automotive Systems
(All estimates in 2006 dollars)
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