A Canadian automotive company with a facility in Benzie County is making major plans to expand.
Magna Interior Trim Components, a subsidiary of
Magna International, Inc., was awarded incentives from the Michigan Strategic Fund (part of the Michigan Economic Development Corporation) to expand and add new jobs, one of three projects to do so.
It had acquired Continental Plastics Co., which has a facility located in Benzonia Township, in 2010. The company, an automotive interior components supplier, has two new contracts for door trim molded parts and sub-components, which will mean expansion in both Benzie County and its other location in St. Clair County, for a total of $3.6 million. That also means Magna Interior Trim will add 247 new jobs between the two locations.
The incentives awarded include a $822,000 Michigan Business Development Program grant based on economic performance of the company. Benzonia Township also is offering property tax abatements to Magna for the expansion.
The other two companies awarded incentives were in Canton Charter Township and Portage. All together, they will bring 494 new jobs to the state and create $27.6 million in new investment.
Writer: Sam Eggleston
Source: Michigan Economic Development Corporation
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