LANSING, MI–The Michigan Strategic Fund is supporting planned expansions by three Tier 1 suppliers that will generate nearly $30 million in private investment and create 262 jobs in northern and southeast Michigan, the Michigan Economic Development Corporation (MEDC) recently announced. The three suppliers are Concord Tool and Manufacturing Inc., erae AMS USA Manufacturing LLC and Ventra Evart LLC. MEDC is the state’s marketing arm and lead advocate for business development, job awareness and community development, with the focus on growing Michigan’s economy.
Concord Tool and Manufacturing, Inc., founded in 1966, is a Tier 1 supplier of tool and die engineering and construction, stamping, projection and spot welding, robotic welding and more. Concord has a strong relationship with Toyota and ships product to every Toyota facility in North America. The company has won new programs from Toyota and has exceeded capacity at its current location in the city of Mt. Clemens. Concord is looking to establish new operations near its existing facilities, a project that is expected to generate a total private investment of $8.8 million and create 75 jobs. As a result, the company has been awarded a $300,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Indiana, Kentucky and Tennessee.
erae AMS USA Manufacturing, LLC is a subsidiary of erae AMS Co., Ltd., a Korea-based Tier 1 supplier of driveline systems, chassis, and electronics systems and components. The parent company has more than 1,600 employees worldwide. erae USA needs to establish a new manufacturing facility to be closer to key customers and plans to lease new operations in the city of Pontiac. The project is expected to generate a total private investment of $17 million and create 137 jobs, resulting in a $685,000 Michigan Business Development Program performance-based grant. Michigan was chosen over competing sites in Indiana and Ohio. The city of Pontiac has offered a 50-percent property tax abatement in support of the project.
Ventra Evart LLC is a subsidiary of Flex-N-Gate, a Tier 1 supplier of plastic automotive components. Ventra Evart focuses on plastics, metals, lighting and mechanical assemblies for the auto industry. The company is located in the city of Evart, a Rising Tide community, and needs to expand its operations due to continued growth. Ventra Evart plans to purchase the vacant Dean’s Dairy building about a mile from its current facility, a project that will generate total private investment of $3.75 million and create 50 jobs. As a result, Ventra Evart has been awarded a $350,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Ohio. The city of Evart anticipates approval of a 50-percent property tax abatement in support of the project.