A host of automotive- and technology-related job news made the rounds recently, with three of the biggest announcements in the state to occur in Oakland County.
On Tuesday, Nov. 27, the Michigan Strategic Fund approved tax credits, tax captures, and grants for projects that are expected to generate more than $1 billion in private investment and 4,574 jobs throughout the state.
While a good-sized chunk of that comes from Ford Motor Company’s $740 million investment in redeveloping Detroit’s Michigan Central Train Depot, projects in Troy, Auburn Hills, and Hazel Park are also generating significant investment dollars and new jobs.
In Troy, it was announced that international technology and mobility company Aptiv will renovate its current facility there. The project is expected to create 500 jobs and generate a total private investment of $20 million.
As a result of the investment, Aptiv has been awarded a 100-percent Good Jobs for Michigan tax capture for up to 10 years valued at $30.6 million. It’s said that Michigan was one of four states listed as finalists in the Aptiv decision.
In Auburn Hills, Samsung SDI Co. has announced that it will build its first high volume automotive battery pack manufacturing facility. It will serve as the company’s principal North American electric vehicle battery pack manufacturing facility.
The new facility is expected to create 461 jobs and a total capital investment of more than $60 million. As a result of the company’s decision to build in Michigan, Samsung SDI has been awarded a $10 million Michigan Business Development Program performance-based grant.
Efforts to redevelop the former Hazel Park Raceway site are underway, with the City of Hazel Park Brownfield Redevelopment Authority receiving approval of $21,436,910 in local and school tax capture to spur development. Two speculative commercial buildings will be built, resulting in a total capital investment of $85 million and 613 full-time equivalent jobs.
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