Wednesday, March 14, 2007
Talks with Magna Steyr, DCX, GERTAG encourage growth in Michigan
LANSINGFollowing her meeting with AVL, Granholm said she expects the company to accelerate the hiring of 125 workers for its new technology center in Ann Arbor and expand its operations with an additional 80 workers.
Throughout the investment mission, the governor has been joined by Michigan Economic Development Corporation (MEDC) President and CEO James C. Epolito.
Last July, Granholm announced AVL Powertrain Engineering Inc. would invest $2.9 million in a new engineering technical center in Plymouth Township and create 125 new high-tech jobs.Assistance offered through the MEDC helped convince the company to choose Michigan over other national and international sites.
On Tuesday, Granholm and Epolito announced three Germany-based firms, FACTON Inc., Kostal of America, and MBtech Autodie, will expand operations in Michigan as a result of assistance from the MEDC.The projects are expected to create and retain more than 700 jobs and involve a total of $20 million in capital investment.
Each of the companies chose Michigan over competing states and countries, including North Carolina and Canada.
More than 170,000 Michiganians are employed by more than 300 German-owned companies that operate in the state.German-owned companies are defined as those with at least 50 percent German ownership.These companies, representing a wide range of industry sectors, are heavily concentrated in advanced automotive manufacturing and research and development, sectors well known for producing high-wage jobs.
MEDC assistance has lead to many of the new facilities and expansions being won by Michigan in head-to-head competition with other states and countries.
Her investment mission to Germany in 2004 resulted in several companies investing approximately $82 million and creating more than 670 new Michigan jobs over the next several years.
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