Magna is to up its investment at its Highland Park (Michigan) seat manufacturing facility, investing US$35.4m and creating 480 jobs.
The investment comes with support from the Michigan Strategic Fund and the Michigan Economic Development Corporation (MEDC) said the expansion provides significant momentum for Michigan's economic recovery following COVID-19.
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"This is great news for Michigan workers, their families, and our economy as a whole as we lay a path for economic recovery and growth here in our state," said Michigan Governor Gretchen Whitmer. "Today's announcement by Magna further underscores that Michigan, the state that put the world on wheels, is the undisputed location for auto manufacturers to expand and grow. It's time to get Michiganders back to work and I'm glad to see one of state's longtime employers investing once again in our state."
Magna has been awarded new full-seat assembly contracts, requiring an expansion of its Highland Park site by approximately 5,000 square feet. The project includes remodeling the current space, adding new automated storage and retrieval shipping systems, and redesigning all assembly lines throughout the facility.
The project is expected to generate a total private investment of USD35.4m and create 480 jobs in a range of positions including management, IT, and manufacturing, resulting in a USD2.1m Michigan Business Development Program performance-based grant approved by the Michigan Strategic Fund. The company also received approval of a five-year, 100-percent State Essential Services Assessment exemption valued at USD326,678. This support was critical in Michigan being chosen for the expansion over a competing site in another state.
"We've put a lot of dedication into managing through the COVID pandemic, and it's a good feeling to have news about growth for Magna and jobs for people in Highland Park, Detroit and other nearby communities," said Magna Seating President John Wyskiel. "We take great pride in being part of the auto industry, in making great seats for our customers, and in helping do our part for a safe and productive economic recovery."
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By GlobalData"Magna's continued investment in Michigan sends a strong sign that we are open for business as we enable long-term prosperity over the following weeks, months and years. This expansion means good jobs for our residents and further solidifies our state's continued leadership in advanced automotive manufacturing and mobility," said Michigan Economic Development Corporation CEO Mark A. Burton. "We're pleased to work with our local partners and support this investment as we continue to work toward economic recovery for all Michiganders."
