Tuesday, March 15, 2005
Michael Shore, MEDC
Improvements at Buena Vista Township Site Protect Jobs
Governor Jennifer M. Granholm today announced that Delphi Automotive Systems LCC plans to invest in its Saginaw Steering site in Buena Vista Township as a result of a brownfield Single Business Tax credit worth up to $9.9 million approved by the Michigan Economic Development Corporation. The outdated facility will be upgraded to help improve competitiveness for new, high-tech manufacturing opportunities with $99 million in private investment.
"Delphi's decision to invest in this site is great news for the Saginaw area and Michigan," Granholm said. "The tax credit will help reduce renovation costs and allow the company to make the upgrades necessary to grow and compete in the global market."
The Steering project is among 13 economic development projects the Governor announced today. In all, they are expected to create and retain a total of 7,120 Michigan jobs, including 3,196 directly by company expansions and redevelopments.
In her 2005 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005 the Governor and the MEDC have announced the creation or retention of more than 31,464jobs as a result of targeted assistance provided by the MEDC.
Saginaw Future President JoAnn Crary added, "We're pleased that the Saginaw community voiced its unanimous support for Delphi. It's our goal to create a competitive business environment that encourages additional investment at the Buena Vista site."
"This project exemplifies why Michigan's brownfield redevelopment program is considered one of the best in the nation," MEDC President and CEO Don Jakeway said. "Delphi will be able to solidify its place as a leader in high-tech manufacturing and increase the quality of life for its workforce and the community."
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.