The State of Michigan announced Tuesday the expansion of three companies in Oakland County and the redevelopment of Universal Mall, all told adding more than 2,600 jobs to the area.
Hitachi Automotive Products (USA) Inc. will expand its Farmington Hills technical center with the help of a state tax credit valued at $1.3 million over seven years and a six-year abatement from the city valued at $895,000. The project is expected to create 205 jobs including 100 directly at Hitachi.
LMS North America, a Belgian-based engineering firm working in the automotive and aerospace sectors, was awarded a state tax credit worth $686,000 over seven years and an abatement from the city of Troy valued at $30,697 over 12 years. LMS will invest $600,000 into the expansion of its local operations, which is expected to create 106 new jobs, 50 at LMS. MEDC will also chip in $25,000 in job training for current and new employees.
Media Genesis Inc., a provider of web site development, design, maintenance and hosting, will relocate from Madison Heights to Royal Oak, a move in which they will invest $3.7 million. The state awarded the project $1.3 million in tax credits over seven years and the city reduced the sale price of city land that will be used for a parking lot by $45,742. Media Genesis' move will create 288 jobs, 155 of which will be direct.
Universal Mall's 56-acre site will be redeveloped into a $24.8 million, 600,000 square-foot lifestyle center. $1.4 million in state and local tax capture will help defray the cost of demolition, lead and asbestos abatement and site preparation for the Warren project. The project is expected to create up to 2,000 jobs.
Source: MEDC
Writer: Kelli B. Kavanaugh
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.