Tuesday, August 14, 2007
Michael Shore, MEDC
High-Tech Companies Investing $12 Million, Creating 653 Jobs
Governor Jennifer M. Granholm today announced that Bolton & Associates and Kolbenschmidt Pierburg AG (KSPG) will expand in Oakland County as a result of assistance from the Michigan Economic Development Corporation. Combined, the expansions are expected to create 653 new jobs and involve more than $12 million in capital investment. Each company chose Michigan over competing sites in other states.
The three projects announced today:
- Bolton & Associates LLC.:
- Kolbenschmidt Pierburg AG (KSPG): Owned by German-based Rheinmetall AG, KSPG, is a high-tech manufacturer of powertrain-related automotive components.over competing sites in Indiana and South Carolina. To support the project, the city of Auburn Hills has proposed an eight-year local property tax abatement valued at approximately $147,600.
The expansions are two of nine economic development projects the governor announced today. In all, they are expected to create a total of 2,982 Michigan jobs.
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