If General Motors approves going forward with the project, the corporation would invest up to $300 million to equip the GM Powertrain Willow Run plant in Ypsilanti for production of a new line of six-speed rear wheel drive transmissions. A Single Business Tax credit offered by the MEDC and valued at $17.1 millionover a 20-year period is part of the business case under review by GM. The company will make its final decision within the next several months.
TRW Automotive has decided to relocate their corporate functions to Livonia from Cleveland, the MEDC reports. The company plans to construct a new, 120,000-sf building on a seven-acre site at a cost of approximately $14 million. TRW Automotive is presently owned by TRW Inc., but is expected to become an independent company by early 2003. The MEDC offered TRW Automotive a Single Business Tax credit valued at $4.5 million over 10 years to bring the new headquarters functions and jobs toMichigan.
Champion Foods LLC, is creating a new food manufacturing facility in Huron Township. A Single Business Tax credit offered by the MEDC and valued at $4.7 millionover a 20-year period encouraged Champion Foods to choose the Township over another possible site in Columbus, OH.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.