Friday, October 28, 2011
LANSING – The Saginaw area had one of its best days ever, with announcements by General Motors that it will invest $215 million in Saginaw Metal Casting Operations resulting in addition or retention of about 250 jobs, followed by news from Nexteer Automotive it will invest $150 million in its Saginaw County operations, retaining more than 1,000 jobs.
As reported by the Saginaw News, Gov. Rick Snyder told the crowd at Saginaw Metal Casting Operations: “We are going to come back and be the best again, thanks to places like this. We need to reinvent Michigan and you are one of the role models to show how reinvention can really work.”
“This is Michigan’s manufacturing leadership in action,” Michigan Economic Development President and CEO Michael Finney said. ” Our aggressive agenda of business climate reform is attracting investment, creating and retaining jobs and revitalizing our urban areas.”
The Nexteer investment will include expansion and upgrade of testing and validation capabilities, including an overhaul of the Nexteer Vehicle Evaluation Center. Chinese state-owned parts manufacturer AVIC Automobile Industry Holding Co. in March acquired a 51 percent stakes in Nexteer’s owner, Pacific Century Motors. General Motors Co. sold the global automotive steering maker in 2010 to Pacific Century, whose majority owner is Beijing E-Town International, an arm of the Beijing municipal government.
The Michigan Economic Development Corporation, a public-private partnership serving as the state’s marketing arm and lead agency for business, talent and jobs, focuses on helping grow Michigan’s economy. For more on the MEDC and its initiatives, visit www.michiganbusiness.org.
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