MEDC auto deals equal 383 new Metro Detroit jobs

A handful of automotive deals from the Michigan Economic Development Corp are expected to lead to the creation of 383 jobs in Metro Detroit over the next five years.

These deals with Otto Bock Polyurethane Technologies, Piston Automotive, and Ring Screw will create mostly manufacturing jobs in Rochester Hills, Redford Township, and Sterling Heights, respectively. They will also invest $33.4 million to make these deals possible. In return the MEDC granted the three companies a combined $2.435 million in state tax incentives. The deals break down as:

Otto Bock Polyurethane Technologies specializes in orthopedic applications and special polyurethane applications in the automotive and furniture industries. It will sink $13.3 million into a Rochester Hills facility that will produce polyurethane parts. This investment is expected to create 98 jobs. The German-based company was also considering a site in Pennsylvania.

Piston Automotive, a tier one automotive supplier, will invest $15 million into expanding its Redford plant so it can manufacture chassis and electric batteries. The project is expected to create 135 jobs in Metro Detroit instead of a competing site in Kentucky.

Ring Screw, a subsidiary of Acument Global Technologies, will spend $5.1 million on expanding its facilities in Sterling Heights, Fenton, and Grand Blanc, while retaining its Michigan headquarters. These facilities will produce mechanical fastening products and services for transportation markets and create 150 jobs. Ring Screw was also looking at expanding in Illinois, Indiana, Tennessee, and Mexico.

Source: Michigan Economic Development Corp
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

MEDC auto deals equal 383 new Metro Detroit jobs

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