©2016 Michigan Economic Development Corporation

NEAPCO to Expand in Van Buren Township, Creating Over 1,000 New Jobs

Tuesday, October 16, 2007

Bridget Beckman, MEDC
(517) 335-4590 or beckman1@michigan.org

Drivetrain Component Manufacturer to Invest $29.4 Million

Governor Jennifer M. Granholm today announced that NEAPCO Driveline LLC, a Pennsylvania-based manufacturer, has chosen Van Buren Township

An economic analysis conducted by the MEDC estimates that increased economic activity created by the new facility will generate up to 722 indirect Michigan jobs in addition to up to 285 created directly by the company. The project is expected to generate more than $359 million in personal income for Michigan workers over the life of the tax credit.

The NEAPCO project is one of four economic development projects the governor announced today. In all, they are expected to create a total of 1,639 Michigan jobs.

NEAPCO Driveline, a wholly owned subsidiary of Pennsylvania-based NEAPCO LLC, was formed to purchase a portion of Automotive Component Holdings LLC drivetrain operations. NEAPCO currently employs 525 workers in facilities in Pennsylvania, Nebraska, Ontario, California and Mexico. The company provides customers with innovative drivetrain solutions through world-class product development, state-of-the-art manufacturing and machining methods, and global procurement, design, and sales networks that support both aftermarket and original equipment manufacturers.

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www.MichiganBusiness.org.


TOTAL JOBS CREATED

1,007

Direct

285

Indirect

722

NET POSITIVE STATE REVENUE IMPACT

$23,202,000

Revenue Foregone

Revenue Gain

$27,707,000

Average Weekly Wage

$917

Personal Income Generated Over 7-Yr Tax Credit Agreement

$359,825,000

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