Tuesday, February 13, 2007
Michael Shore, MEDC
MEDC Secures Company Investment, 180 New Jobs
competing site in South Carolina.
An economic analysis conducted by the MEDC estimates that increased economic activity created by the expansion will generate more than $45 million in personal income for Michigan workers over the life of the tax credit.
The FEV Engine Technology expansion is one of five economic development projects the governor announced today. In all, they are expected to create a total of 1,044 Michigan jobs.
FEV is a growing high-tech company active in the design and development of hybrid, fuel cells and alternative fuel technology. Formed in 1985, the company designs and develops internal combustion engines and supplies advanced test and instrumentation systems. The company also offers a complete range of engineering services including the design, prototyping and development of advanced gasoline, diesel and alternative propulsion systems. FEV currently employs 227 at its facility in Auburn Hills.
(All estimates in 2007 dollars)
|TOTAL JOBS CREATED|
|NET POSITIVE STATE REVENUE IMPACT|
|Average Weekly Wage|
|Personal Income Generated Over|
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