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Friday, March 29, 2013
Martinrea Jonesville, LLC has received approval from the Michigan Strategic Fund for an increase to its 2011 Michigan Economic Growth Authority tax credit to allow for further expansion in Michigan
LANSING – Martinrea Jonesville, LLC has received approval from the Michigan Strategic Fund for an increase to its 2011 Michigan Economic Growth Authority tax credit to allow for further expansion in Michigan, resulting in the creation of 122 new jobs the Village of North Adams and $11.8 million in additional new investment by the company.
“The expansion of Martinrea’s operations in Hillsdale Countywill further strengthen its Michigan presence and provide additional good jobs for years to come,”said Michigan Economic Development Corporation President and CEO Michael A. Finney. “This continued commitment sends a strong message around the world that Michigan's highly competitive business climate and tremendous work force capabilities mean real opportunities for growing businesses.”
Martinrea Jonesville, LLC develops and manufactures state of the art metal forming and fluid management systems for the automotive and industrial sectors. In January 2011, the Michigan Economic Growth Authority approved a MEGA tax credit for an expansion at the company’s Jonesville location for a maximum of 168 new jobs over a statewide base of 1,026. The company plans to expand in new machinery and equipment to support new business related to the automotive industry. The company is at capacity at its Jonesville location and is expanding into a new facility in the Village of North Adams, investing $11.8 million and adding 122 new jobs. As a result of this growth, MSF approved an increase in the maximum allowance for new jobs from 168 to 290.
“Martinrea is continuing to build on its success in southern Michigan with the opening of a new plant,” said Martinrea Director of Operations U.S. Pete Bertolini. “The plant in North Adams will add between 100-150 new employees to its current 650 in the area. Martinrea has enjoyed a successful partnership with the MEDC and the local communities of Jonesville and North Adams to make this growth in Michigan possible.”
The Village of North Adams plans to approve 12-year property tax abatements valued at $422,000.
“Martinrea Jonesville represents an ideal corporate citizen. Their continued investment in and around Jonesville promotes economic growth by providing hundreds of direct jobs to support families throughout the area and spurs numerous indirect jobs in south central Michigan,” said Village of Jonesville Manager Adam R. Smith. “They are actively engaged in the community and support local events and activities.”
“Martinrea has had a tremendous positive impact on the economy in Hillsdale County,” said Hillsdale Economic Development Partnership Executive Director Susan Smith. “The Hillsdale County Economic Development Partnership greatly appreciates the investment and job creation Martinrea continues to bring to our communities.”
In January 2012, the Michigan Business Development and Michigan Community Revitalization Programs replaced the state’s previous MEGA, Brownfield and Historic tax credit programs that were features of the Michigan Business Tax that was eliminated under business tax restructuring legislation approved and signed into law by Governor Rick Snyder in May 2011.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
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