Michigan state governor Jennifer M. Granholm has announced that the Hyundai America Technical Centre, Inc. will relocate and expand its new headquarters in Superior Township near Ann Arbor.
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Hyundai plans to invest a total of $117 million in the two-phased project. The new 168,000 square foot expandable facility will be located near the intersection of Geddes and LeForge roads. The project will create 85 jobs within the first year and a total of 751 new jobs by 2024, including 400 directly by the company.
“Michigan continues to be recognized as #1 in the world for automotive R & D,” said Granholm. “Hyundai’s decision to expand in Michigan underscores our dominance in the industry, proving to the rest of the world that Michigan is still at the top of its game.”
The Hyundai America Technical Centre had considered locating its new expanded headquarters facility in Alabama where it is currently constructing a manufacturing facility. The offer of a high-tech Single Business Tax (SBT) credit worth more than $22 million over a 12-year period helped convince the company to expand and create new jobs in Michigan.
Superior Township also offered assistance with a local tax abatement for the project worth an estimated $6.4 million over 12 years.
“We’re particularly pleased that Hyundai has chosen to join the growing number of automotive technology companies in the Ann Arbor/Ypsilanti area,” said Washtenaw Development Council President Susan Lackey. “The company’s decision to anchor the Geddes Centre Technology Park demonstrates that this industry is, in fact, one that can be successful across the county.”
According to an economic analysis conducted by the University of Michigan, it is estimated that the relocation and expansion will create an additional 351 Michigan jobs as a result of increased economic activity in addition to the 400 jobs created directly by the company. The company’s increased operations will result in a net state revenue gain of more than $80.8 million over the life of the SBT credits.
The Hyundai America Technical Centre was established in 1986 and is a wholly owned subsidiary of Hyundai Motor Company of Korea. The company conducts emissions testing, engineering, research, development and design for Hyundai and Kia automobiles. The Hyundai America Technical Centre is currently headquartered in Pittsfield Township near the site of the new facility and employs 41 people.
