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New Manufacturing Facility to Go Up in Macomb Township

DETROIT- Michigan Economic Development Corp. to assist engineering firm with $3.4 million loan for land and construction.

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Sterling Die and Engineering Inc. is building a 50,000 s.f. manufacturing facility in Macomb Township, using a $3.4 million tax-exempt bond. The bonds will be issued to finance the acquisition of land, construction of the facility and the purchase of machinery and equipment.

The land and facility portion of the project will be owned by Chester Wisniewski and leased to the company, which makes metal stamping products for the automotive industry.

Sterling will issue Industrial Development Revenue Bonds, which are issued to finance projects for manufacturers, solid waste/cogeneration companies and certain non-profit corporations. The interest paid to the bond buyer is exempt from federal,state and local taxes.

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