Michigan Group Grants $10.1 Million Investment for Magna Sunroof Research
September 28, 2012
by Casey Neeley, email@example.com
The Michigan Economic Development Corp. (MEDC) has granted a request to allow Magna Sealing and Glass Systems to invest $10.1 million in developing research. The company plans to use the money to develop new sunroof technology as well as other new innovations for auto glass applications, according to information from the MEDC website.
Magna Sealing and Glass, a manufacturing division for Magna Exteriors and Interiors, expects the project to develop nearly 177 new jobs at its location in Holland Township, Mich. The MEDC, a public-private partnership that serves as Michigan’s lead marketing and business agency, also plans to grant $1.2 million to Magna based on the anticipated job growth the project will bring to the state.
“Magna International employs more than 8,000 people in the state,” says Kathy Fagan, spokeswoman for the MEDC. “The entire company is very invested in the state.”
Magna’s stake in Michigan is the reason the MEDC decided to allow them to invest.
“We do look at the investment they’re making and the number of jobs they’re creating and we also look to see if they are considering investing in another state and in this case they were considering competing states,” explains Fagan. “In addition to the out-of-state competition, the wages for the jobs associated with this project are higher than the average wage for Ottawa County. The project has strong links to Michigan suppliers. Obviously Michigan also has a very strong automotive base.”
“Magna International is a really important member of the Michigan manufacturing community so that was really significant for us and we were really happy to make this project work,” adds Fagan.
Scott Worden, manager of corporate communications and public relations at Magna International says the new jobs will mostly, “be production and manufacturing jobs. There are going to be some technical support jobs and engineering jobs that are in support of that manufacturing.”
“As far as vehicle segments, we see the sunroof market growing, as well as the luxury and mid-level segments,” continues Worden. “We’re looking to have an innovative new product that can fit in with this sunroof market growth.”
Worden anticipates release of information on the product innovations within the next year.
This story is an original story by AGRR™ magazine/glassBYTEs.com™. Subscribe to AGRR™ Magazine.
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