Aeroflex, Magna lead way with new industrial jobs

Thursday, April 22, 2010 | Source: metromode

The latest round of tax incentive deals from the Michigan Economic Development Corp comes with a variety of manufacturing jobs that fit squarely into both the new and old economies.

These deals go to Aeroflex in Ann Arbor, Lenawee Stamping in Tecumseh and Magna all over Metro Detroit. The three deals will create 613 positions and $54.7 million in investment for $6.3 million in state tax incentives.

Aeroflex, a manufacturer of wireless products, will invest $3 million to expand its operations in Ann Arbor. The investment will allow the company to move a current product line in New Jersey to Michigan. That means 47 new jobs over seven years for $466,004 in state tax abatements.

"The majority of these positions will be added in the first year," says Norm Hansen, vice president of sales and marketing for Aeroflex. "I would say in the first year, 75 percent would be filled."

Auto supplier Magna plans to invest $49.2 million to expand its manufacturing, engineering and product-testing operations in Michigan. Specifically, it plans to grow its energy-storage-and-delivery testing facility in Auburn Hills, engineering facility in Troy, and manufacturing plants in Lansing and Shelby Township. That will all add up to 508 new jobs over the next seven years, thanks to a $5.6 million state tax credit and more abatements from Auburn Hills and Troy.

And the purely 20th Century tax abatement goes to Lenawee Stamping, which makes metal stamping and welded fabrications for the automotive industry. It will put another $2.5 million towards expanding its Tecumseh facility for new work from General Motors, resulting in 78 new jobs over four years. The MEDC approved a state tax credit for $414,322 for the project that beat out a competing site in Ohio.

Sources: Michigan Economic Development Corp and Norm Hansen, vice president of sales and marketing for Aeroflex
Writer: Jon Zemke