©2016 Michigan Economic Development Corporation

Michigan Secures MBtech Autodie Investment in Grand Rapids, 422 Jobs

Tuesday, March 13, 2007

Michael Shore
(517) 335-4590

Company planning to upgrade plant

Governor Jennifer M. Granholm today announced MBtech Autodie LLC, a company within the MBtech Group, will invest in the former Autodie International facility in Grand Rapids. The project will retain 422 Michigan jobs, including 200 directly by the company. Assistance offered through the Michigan Economic Development Corporation (MEDC) helped convince the company to invest approximately $5 million and keep jobs in Michigan.

The announcement follows a meeting in Germany today between Granholm and DaimlerChrysler officials. Granholm and Michigan Economic Development Corporation President and CEO James C. Epolito are on the second day of an investment mission to encourage German companies to invest and create jobs in the state.

The MEDC's ability to support MBtech was made possible by changes in the Michigan Economic Growth Authority Act and the Michigan Renaissance Zone Act enacted by the Legislature and signed by Granholm last December.

An economic analysis conducted by the MEDC estimates that increased economic activity created by the project will retain an additional 222 indirect Michigan jobs, in addition to the 200 retained directly by the company. The project will generate more than $162 million in personal income for Michigan workers over the life of the tax credit.

The MBtech Autodie project is one of 10 economic development projects the governor announced today. In all, they are expected to create and retain a total of 14,358 Michigan jobs.

Grand Rapids-based MBtech Autodie supplies the automotive industry with stamping dies for sheet metal parts and tryout and repair services. Last November, the company purchased the former Autodie International facility from Comau Pico.

www.michigan.org.

MBtech Autodie LLC
Summary Estimates

TOTAL JOBS RETAINED

422

Direct

200

Indirect

222

NET POSITIVE STATE REVENUE IMPACT

$10,660,000

Revenue Foregone

Revenue Gain

$12,528,000

Average Weekly Wage

$960

Personal Income Generated Over 8-Yr Tax Credit Agreement

$162,695,000