Friday, October 26, 2007
Bridget Beckman, MEDC
(517) 335-4590 or email@example.com
Company considering major investment in Jefferson North Assembly Plant
Governor Jennifer M. Granholm todayannounced approval of a state tax credit to encourage Chrysler LLC to invest approximately $366 million in an expansion of its Jefferson North Assembly Plant in Detroit that will result in hundreds of new jobs. Additional investments are also under consideration. If approved by the company, the project will create and retain up to 1,419 jobs, including a minimum of 400 directly by the company.
TheMichigan Economic Development Corporation is working closely with the company as it considers Michigan against competing national and international sites.
Chrysler has announced several recent investments in its Michigan operations including: $730 million for a new Trenton engine program, $700 million for a new axle program in Marysville, $300 million for new Sterling Heights Assembly Paint Shop and $50 million for upgrades to the Warren Truck Assembly Plant and Warren Stamping.
MEDC President and CEO James C. Epolito said
An economic analysis conducted by the MEDC estimates that increased economic activity created by the expansion will create and retain up to 1,019 indirect Michigan jobs in addition to the 400 created and retained directly by the company. The project is expected to generate more than $569 million in personal income for Michigan workers over the life of the tax credit.
Chrysler LLC is a wholly-owned subsidiary of Chrysler Holding LLC. The company is the manufacturing entity for Chrysler Group, which manufactures, assembles and sells passenger cars, trucks, minivans and sport utility vehicles under the brand names: Chrysler, Jeep and Dodge.
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