MEDC deals add nearly 796 new jobs in Metro Detroit

Thursday, September 16, 2010 | Source: Metromode

The latest slate of tax incentives from the Michigan Economic Development Corp comes with a healthy portion of jobs and investment for Metro Detroit. The region stands to benefit from 796 new jobs resulting from over $12 million in new investment.

This package of tax breaks for corporate expansion promises to create 1,880 new jobs and generate $103.1 million in investment across the state as far west as Holland and as far north as the Upper Peninsula. The five deals in Metro Detroit come from a variety of firms, ranging from automotive companies to software businesses. These deals include:

- Oxus America will receive a $359,070 tax break over seven years to set up its engineering and manufacturing facilities in Rochester. The new company is acquiring the assets of Delphi Medical System's oxygen concentrator business. It plans to spend $2.1 million on the new location, which will create 38 jobs. The company was also looking at a site in South Korea.

- Silk Route Global is investing $1.9 million to expand its Troy operations, creating 103 jobs over the next five years. The global supply-chain software development company received a $608,037 state tax credit to entice it to expand in Michigan instead of Florida.

- Search Optics provides digital marketing services for the automotive industry. It's sinking $4.1 million into its Ferndale facility to better serve its East Coast clients. A $3 million state tax incentive over the next seven years is expected to result in 288 new hires locally. Other potential expansion sites included Toronto and Florida.

- Navistar, a commercial truck and diesel engine manufacturer scored a $2.5 million tax credit in exchange for plans to establish an engineering center in Madison Heights, a $4 million investment. That engineering center will focus on product development and engineering for military trucks and create 87 new jobs over the next seven years. Sites in Illinois and Indiana were also considered.

- Weber Automotive plans to hire 280 people over the next five years as part of its plan to move to a production facility to southeast Michigan. The automotive supplier will receive a $2.1 million state tax credit.

Source: Michigan Economic Development Corp
Writer: Jon Zemke