Tuesday, January 16, 2007
Michael Shore, MEDC
Aerospace Company Planning $3.7 Million Expansion, 282 New Jobs
Warren. The project will create 282 new jobs, including 125 directly by the company. Assistance offered through the Michigan Economic Development Corporation helped convince the company to grow in Michigan instead of a competing site in Kansas.
Our business-friendly climate and talented workforce are convincing companies like Gentz to locate and invest in Michigan
An economic analysis conducted by the MEDC estimates that increased economic activity created by the expansion will generate an additional 157 indirect Michigan jobs, in addition to the 125 created directly by the company. The project is expected to generate more than $103 million in personal income for Michigan workers over the life of the tax credit.
The Gentz expansion is one of five economic development projects the Governor announced today. In all, they are expected to create and retain a total of 1,790 Michigan jobs.
Gentz Industries manufactures and repairs complex, high-precision components and fabrications for power generation, prop and jet aircraft and helicopters. Customers include engine builders, certified aerospace parts distributors, airlines and certified engine repair stations. Gentz currently employs 169 full-time employees at its facility in Warren.
Gentz Aerospace Production LLC
(All estimates in 2007 dollars)
|TOTAL JOBS CREATED|
|NET POSITIVE STATE REVENUE IMPACT|
|Average Weekly Wage|
|Personal Income Generated Over|
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