Tuesday, April 17, 2007
Michael Shore, MEDC
Michigan lands $22 million plant, 570 new jobs
Governor Jennifer M. Granholm today announced that Japan-based Keihin Corporation, through its North American subsidiary Keihin Indiana Precision Technology Inc., will build a new, $22-million manufacturing facility in the village of Capac in St. Clair County. The plant will create 570 new jobs, including 260 directly by the company. Assistance offered through the Michigan Economic Development Corporation helped convince the global manufacturer and automotive supplierto choose Michigan over a competing U.S. site.
The MEDC is going to the mat everyday to win these types of projects against some very intense competition,
An economic analysis conducted by the MEDC estimates that increased economic activity created by the Keihin manufacturing facility will create an additional 310 indirect Michigan jobs, in addition to the 260 created directly by the company. The project is expected to generate more than $409 million in personal income for Michigan workers over the life of the tax credit.
The Keihin project is one of 10 economic development projects the governor announced today. In all, they are expected to create and retain a total of 4,237 Michigan jobs.
KIPT manufactures and supplies air and fuel management systems, HVAC systems and electronic control systems. The company sells its products to Honda of America Mfg. Inc. and its affiliates primarily in the United States and Canada.
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