Gary Roberts with the locally-based DeMattia tells GlobeSt.com that while business has been slow due to the economy, there are projects for advanced engineering companies that are working on future automotive developments. "These suppliers are making investments for the future," he says. The Plymouth location will house commercial and engineering teams for product development, laboratory space, offices and team collaboration. "They'll have offices on the second level and R&D on the first level," Roberts says.
The automotive supplier received a $3.5 million tax credit from the Michigan Economic Development Corp., with the stipulation that the firm also expand a manufacturing facility in Homer, MI. The developments will add about 325 jobs, including 42 at the Novi location. The company will also receive $500,000 through the state's Economic Development Job Training program.
The Plymouth building will be complete in mid-2009, and will be the last parcel occupied along State Highway M-14, an important corridor between Ann Arbor and Detroit, Roberts says. "It will be a nice completion to the automotive engineering park," he says. The park includes tenants such as Johnson Controls, AVL North America, Freudenberg-NOK, Dow Corning and Metaldyne.
Roberts couldn't comment on the lease rate. The average rate in Novi is $22.98 per square foot, according to a third-quarter report by Grubb & Ellis.
Brembo acquired the Hayes-Lemmerz brake discs division in November 2007. The company has plants in 14 countries on three continents.
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