We’re beginning to see a genuine resurgence in the auto industry. There are solid investments being made because companies believe there’s an opportunity to serve a market that has been struggling. These factors, in combination with innovative state and local economic development tools, help ensure the auto industry’s growth well into the future. For example, this week five companies announced they would make some significant investments in machinery and equipment to expand their operations and create and retain jobs in Michigan.  

They are:

• Nexteer Automotive in the Saginaw area. The former steering division of Delphi Corp. plans to invest $413 million to make advanced steering and driveline systems, retaining 2,400 jobs.
• Global Engine Manufacturing Alliance LLC, a Chrysler subsidiary, which plans to invest $179 million at a robotized engine manufacturing plant for fuel-efficient vehicles in Dundee, creating 573 jobs.
• Lear Corp., which plans to invest $14 million in its seating system division and electrical and electronics divisions in Roscommon, Southfield and Taylor, creating 768 and retaining 1,836 jobs.
• Akebono Corp., a brake manufacturer, which plans to invest $28 million to add laboratory space and testing equipment at its engineering center in Farmington Hills, creating 279 jobs.
• Toda America Inc., a manufacturer of iron oxide and mixed metal oxide particles, which plans to invest $70.1 million to make materials for lithium-ion batteries in Battle Creek, creating 148 jobs.

Tagged as: Alternative Energy, Economic Growth, global automotive innovation

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