Thursday, March 15, 2007
Governor Jennifer M. Granholm today highlighted the jobs and investments coming to Michigan following her investment mission to Germany this week.During the three-day mission, Granholm announced 787 jobs created and retained and $20 million in investments by FACTON Inc., Kostal of America, MBTech Autodie, and AVL Powertrain Engineering Inc.
The governor was joined on the mission by Michigan Economic Development Corporation (MEDC) President and CEO James C. Epolito.
The following companies are expected to invest and create and retain jobs in Michigan:
- FACTON IncThe project will create 93 new Michigan jobs, including 59 directly by the company.
- Kostal of America Inc.The expansion will create 203 new high-tech jobs and involve $13.6 million in capital investment.
- MBTech Autodie, LLCThe project is expected to retain 422 Michigan jobs.
- AVL Powertrain Engineering Inc
More than 170,000 Michiganians are employed by more than 300 German-owned companies that operate in the state.German-owned companies are defined as those with at least 50 percent German ownership.These companies, representing a wide range of industry sectors, are heavily concentrated in advanced automotive manufacturing and research and development, sectors well known for producing high-wage jobs.
MEDC assistance has lead to many of the new facilities and expansions being won by Michigan in head-to-head competition with other states and countries.
Her investment mission to Germany in 2004 resulted in several companies investing approximately $82 million and creating more than 670 new Michigan jobs over the next several years.
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