©2016 Michigan Economic Development Corporation

Siemens VDO Automotive Chooses Michigan for Consolidated North American Headquarters

Tuesday, October 17, 2006

Michael Shore, MEDC
(517) 335-4590

Up to 2,851 Jobs Created and Retained

An economic analysis conducted by the MEDC estimates that increased economic activity created by the new headquarters will create and retain an additional 1,751 indirect Michigan jobs, in addition to the 1,100 created and retained directly by the company. The project is expected to generate and retain more than $1.9 billion in personal income for Michigan workers over the life of the tax credits.

The is project is one of 14 economic development projects the Governor announced today. In all, they are expected to create and retain a total of 8,572 Michigan jobs.

With North American headquarters in Auburn Hills, Siemens VDO is a leading international automotive supplier of electronics and mechatronics. It manufactures a comprehensive spectrum of more than 2,000 products relating to engine and drivetrain, chassis and car body, instrumentation and infotainment and safety systems.

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www.michigan.org.

Siemens VDO Automotive Corporation
Economic Analysis
Summary Estimates
(All estimates in 2006 dollars)

TOTAL JOBS CREATED

2,851

Direct

1,100

Indirect

1,751

$108,116,000

Revenue Foregone

$27,765,000

Revenue Gained and Retained

$135,881,000

Average Weekly Wage

$1,413

$1,927,115,000