Tuesday, October 19, 2004
Paul Krepps, MEDC
$8.8 Million Project Bringing More Manufacturing Jobs to Thumb
Governor Jennifer M. Granholm announced today that auto supplier Grupo Antolin Michigan Inc. will expand its existing operations in Marlette, creating 310 new jobs for Michigan workers, including 120 manufacturing jobs directly by the company. The expansion is a result of assistance offered through the Michigan Economic Development Corporation (MEDC).
The MEDC approved a Single Business Tax (SBT) credit valued at more than $1 million to help convince Grupo Antolin to choose Michigan over a competing site in Canada. The expansion is expected to generate $8.8 million in private investment.
"Grupo Antolin is one of the first companies to benefit from a new law designed to create good paying jobs in rural areas," said Granholm. "This project could easily have gone across the border had we not been able to build a solid business case here. We must continuously sharpen our economic development tools to accommodate companies' changing needs and to keep Michigan competitive in the global economy."
The Governor recently signed a law designed to attract and retain high-paying jobs in rural areas. The law allows the Michigan Economic Growth Authority (MEGA) to grant SBT credits to companies willing to expand or locate in counties with a population of less than 75,000. Among the main requirements is that the company create up to 25 jobs within the first five years of the project.
"Grupo Antolin continues to grow in the automotive industry here in North America," said Grupo Antolin Vice President and General Manager of Operations Eric Rucker. "This growth is a tribute to our hard working associates at all levels. The support from our parent corporation along with state and local authorities is significant. It will mean new customers, commodities and technologies for Grupo Antolin Michigan."
The city of Marlette is expected to support the expansion with an abatement of the company's real and personal property taxes valued at $400,000 over 12 years.
"MEGA credits have been our ace-in-the-hole in our efforts to attract major investment and jobs to the state," said MEDC President and CEO Don Jakeway. "Grupo Antolin's decision to continue to grow in Marlette was made possible by a state incentive package that made good business sense. We appreciate the company's continued partnership with Michigan."
A wholly-owned subsidiary of Grupo Antolin-Irausa based in Burgos, Spain, Grupo Antolin Michigan Inc. is a supplier of automotive interior trim components and systems. In April 2003 the company decided to locate its production facility in the former Lear Seating plant in Marlette. The newly-renovated facility currently employs 140 workers.
In her 2004 State of the State address, Governor Granholm announced her plan to make Michigan a global economic powerhouse in the 21st century. So far this year, the Governor and the MEDC have announced the creation or retention of approximately 30,794 jobs as a result of targeted assistance provided by the MEDC.
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.
Grupo Antolin Michigan
(All estimates in 2004 dollars)
|TOTAL JOBS CREATED||310|
|NET POSITIVE STATE REVENUE IMPACT||$10,490,000|
|Personal Income Generated Over|
Life of the Tax Credit Agreement