Monday, August 07, 2006
Michael Shore, MEDC
Company Investing $6 Million in Manufacturing Process Improvements
in St. Clair. This investment, which includes $6 million in advanced new equipment and $1.6 million to add 28,000 square feet, is expected to result in the creation of 130 new jobs.
State sales tax exemptions on manufacturing equipment make the company eligible for tax savings of $360,000. In addition, the state investment tax credit can be applied on the investment of $7.6 million up to a value of $53,000.
The package of incentives coordinated by the MEDC, the Economic Development Alliance of St. Clair County and the city of St. Clair is worth up to $1,362,000.
The city of St. Clair is considering local tax abatement worth up to $692,000 over 12 years to support the project. Additionally, the project qualifies for state education tax abatement worth up to $170,000.
Dana is a supplier of drivetrain, chassis, structural and engine technologies to every major vehicle and engine producer in the world. The Toledo, Ohio-based manufacturer reported sales of $8.6 billion in 2005.
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