Generous tax incentives have convinced motor industry purchasing clearing house Covisint to locate its corporate world headquarters in Southfield, Michigan. The company chose Southfield, contingent upon the successful conclusion of negotiations with its proposed new landlord and subject to the approval of local tax incentives by the Southfield City Council, and expects to relocate to its new offices in early 2003.
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“Both the City of Detroit and the City of Southfield have many strengths,” said Kevin W. English, chairman, CEO and president, Covisint. “We chose Southfield for a number of reasons, particularly its geographically central location, which makes it ideal for our OEM and supplier customers. We look at this as a positive decision for the entire metropolitan Detroit area.”
Speculation over the location of Covisint’s permanent world headquarters has been the focus of intense media attention since the company’s founding in early 2000. The company had considered sites in Michigan and several other states but, ast November, the Michigan Economic Development Corporate offered a 20-year incentive package valued up to $US59 million to secure the company’s choice of Southeastern Michigan for its world headquarters.
Both the cities of Detroit and Southfield pledged local tax incentives to attract the company.
