Tuesday, July 01, 2008
Bridget Beckman, MEDC
(517) 335-4590 email@example.com
Auto supplier chooses Michigan over China for $11 million project
Governor Jennifer M. Granholm today announced a $500,000 grant to the city of Coopersville in Ottawa County to support an expansion by Saturn Electronics & Engineering Inc. The grant, which will assist with the cost of new machinery and equipment, is being made available by the Michigan Economic Development Corporation (MEDC) with funds provided by the federal Community Development Block Grant program.The expansion is expected to generate over $11 million in capital investment and create 26 new jobs. Assistance provided by the MEDC helped convince the company toexpand in Michigan over a competing site in China.
“The addition of high-tech machinery and equipment will enable Saturn to increase productivity and create new jobs in Ottawa County,” Granholm said. “It opens doors of opportunity for local working families and bolsters the state’s supplier sector.”
Auburn Hills-based Saturn Electronics & Engineering Inc is a supplier of automotive electronics, electrical wiring and electromechanical components. The company has 117 employees producing solenoids for the auto industry in Coopersville, its only manufacturing facility in Michigan, and more than 1,500 worldwide in China, the Philippines, and Mexico.
“We are very pleased with the assistance of the MEDC and I would like to personally thank the Governor and James Epolito of the MEDC for making this grant for Saturn’s Coopersville facility,” Saturn CEOWally Tsuha said. “Saturn looks forward to growing in Michigan and contributing to the state’s plan for economic success.”
The MEDC is able to award approximately $40 million in federal CDBG funds each year. There are 1,655 local governments within the state eligible to apply for these funds. Projects are approved contingent upon compliance with state and federal requirements.
“The CDBG program is a valuable resource making it possible for communities to support local business development and job growth,” MEDC President and CEO James C. Epolito said. “Coopersville and company officials are to be commended for their success in making this project a reality.”
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. For more information on MEDC initiatives and programs, visit the Web site atwww.MichiganBusiness.org.
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