Tuesday, November 15, 2005
Company Chooses Hillsdale for $1.5 Million Investment
Governor Jennifer M. Granholm announced today that Cobra Sport Inc. will invest $1.5 million to relocate its motorcycle manufacturing facility to Hillsdale. The project will create 132 new jobs, including 70 directly by the company. Assistance offered through the Michigan Economic Development Corporation helped convince the company to move from Ohioto Michigan.
A University of Michigan economic analysis estimates that increased economic activity from the manufacturing center will generate an additional 62 indirect Michigan jobs, in addition to the 70 created directly by the company. The project is expected to create more than $31.9 million in personal income for Michigan workers over the life of the tax credit.
The expansion is one of nine economic development projects the Governor announced today. In all, they are expected to create a total of 1,573 Michigan jobs.
Cobra Sport Inc.
(All estimates in 2005 dollars)
|TOTAL JOBS CREATED|
|NET POSITIVE STATE REVENUE IMPACT|
|Personal Income Generated Over Life of the Seven-Year Tax Credit Agreement|