Detroit Economic Development Corp Site Secures Flex-N-Gate Facility to Supply Ford

Flex-N-Gate, a top global auto supplier of OEM automotive products, announced plans to build a new plant in Detroit, MI to supply parts to the Ford Motor Company.

Flex-N-Gate Detroit

Flex-N-Gate Detroit (photo – detroitmi.gov)

Supported by a state grant and the sale of 30 acres of land in the I-94 Industrial Park approved by the Detroit Economic Development Corporation, the company will invest $95 million and create up to 650 new jobs in Detroit over the next three years.

Potential additional investment could push the project to at least $100 million, and at full capacity, create a total of up to 750 jobs.

Furthermore, Urbana, IL-based Flex-N-Gate has committed to meeting Detroit-based hiring and contracting thresholds and to develop a comprehensive hiring plan in conjunction with the City’s Human Rights Department and Detroit Employment Solutions, Corp.

Mayor Mike Duggan said in a statement that “The fact that Flex-N-Gate has committed to such a strong local hiring and contracting plan shows the company’s deep level of commitment to being a partner with the community.”

Governor Rick Snyder likewise said that “We’re proud that Flex-N-Gate is investing in Detroit, and in the people of Detroit.”

Flex-N-Gate owner Shahid Khan said that building a new plant from the ground up within the Detroit city limits was made possible thanks to their partnership and collaboration with Ford, the City of Detroit and the State of Michigan. “Their collective support and vision to convert a neglected urban area into a manufacturing center that will create hundreds of new, sustainable and well-paying jobs here in Detroit has been nothing short of spectacular,” said Khan.

The site in question is located in the 189-acre I-94 Industrial Park, which is under control of the Economic Development Corporation of the City of Detroit. The first major new tenant in the park, LINC Logistics, opened a new $30-million, $500,000-square-foot facility immediately adjacent to the Flex-N-Gate site earlier this year.

Also, the Flex-N-Gate project is the culmination of a collaborative effort among the city of Detroit, the Detroit Economic Growth Corporation, and the Michigan Economic Development Corporation. Yesterday, MEDC announced Michigan Strategic Fund approval of a $3.5-million Business Development Program grant to incentivize the project. At the same time, the Detroit EDC approved the sale of 30 acres in the industrial park to Flex-N-Gate.

MEDC CEO Steve Arwood said in the release that “The expansion of Flex-N-Gate’s presence in Michigan demonstrates the broad range of productive possibilities for private investors and job creators when local and state economic development teams work with one of the state’s bedrock automotive companies and a privately owned auto supplier.”

DTE Huron Renewable Energy Center Opening Brings 25 Green Jobs to Bad Axe, Michigan

DTE Energy has announced the grand opening of their new Huron Renewable Energy Center in Bad Axe, MI.

DTE Huron Renewable Energy Center in Bad Axe, MI

DTE Huron Renewable Energy Center in Bad Axe, MI (photo – dteenergy.com)

The facility is creating 25 renewable energy operations and maintenance jobs for Bad Axe and Huron County, and has also put to good use a historic building that has been lying vacant for a few years.

DTE’s renovations of the building, which dates back to 1952 and has been the site of the M-53 Drive-In Theater and a Normans Warehouse, have transformed the space into a fully-functioning renewable energy operations headquarters with new offices, garage facilities, warehousing and a maintenance shop area.

David Harwood, director of Renewable Energy for DTE Energy, highlighted the Huron County and Bad Axe economic development benefits of the project. “We are excited to breathe new life into a building located on a site that has been a landmark in Bad Axe for years, and to provide yet another example of how renewable energy provides economic benefits to the local community,” said Harwood.

Furthermore, the renovations also include an as yet incomplete 3,000-square-foot space that DTE plans to develop into a community space to serve as an area for renewable energy education and hosting wind park tours, meetings and other community activities.

The location of the new Renewable Energy Center is ideal for DTE because they currently own and operate four wind parks and three solar arrays in Huron County alone. Harwood noted that the opening of the Huron Renewable Energy Center deepens their commitment of service to this region as both an energy provider and corporate citizen for many years to come.

Detroit-based DTE Energy (NYSE: DTE) is Michigan’s largest investor in clean energy, including wind and solar, having driven investments of more than $2 billion since 2008. Their entire renewable energy portfolio is capable of providing enough clean energy to power more than 400,000 homes – equivalent to a city three times the size of Ann Arbor.

In addition to the aforementioned Huron County wind and solar projects, DTE also owns two wind parks and 23 solar arrays in other areas of the state. What’s more, some of these projects have significant economic development benefits aside from the investments and job creation.

For example, DTE Energy recently announced that they are developing one of the largest urban solar power arrays in the United States on a 10-acre parcel of blighted and unused land in Detroit at the former O’Shea Park. The project will generate more than $1 million in tax revenue for the City over the life of the 20-year lease.

David Meador, vice chairman and chief administrative officer, DTE Energy, said in a statement at that time that “Not only will this new solar array enable DTE to deliver more clean energy to our customers, it is also a part of our efforts to help spur economic growth and prosperity in the neighborhoods we serve.”

Kraft Heinz, Kent Quality Foods Awarded Incentives For West Michigan Economic Development Projects

West Michigan economic development group Lakeshore Advantage has announced investment and job creation projects by The Kraft Heinz Company and Kent Quality Foods.

West MI econdev food projects

Photo – lakeshoreadvantage.com

The Kraft Heinz Company, the world’s fifth largest food company, announced the planned expansion of their Heinz manufacturing plant in the city of Holland, MI.

Kraft Heinz’s decision to expand operations in Holland and invest $17.2 million will create 50 new jobs over the course of the project, which will insource and expand their yellow mustard production capacity, and consolidate 100 percent of the company’s Grey Poupon brand mustard production in Holland.

Michigan Economic Development Corporation CEO Steve Arwood said in a statement that “We’re excited that Michigan will be home to one of the largest mustard producers in the world and the iconic Grey Poupon brand.”

The Kraft Heinz Company chose their current facility for the expansion over competing sites in other states. City of Holland economic development incentives offered to support the project include a 12-year property tax abatement on the new building construction.

West Michigan Works! is additionally offering more than $50,000 in workforce recruitment and training support. The project has also been awarded a $500,000 Michigan Business Development Program performance-based state grant.

City of Holland Mayor Nancy DeBoer added that “With hard work, flexibility, and loyalty, Holland’s workforce catches the attention of the nation and the company is able to expand within their current location in the city.”

Meanwhile, Kent Quality Foods, maker of franks, sausage and specialty meats, has announced plans to construct a food processing facility in Jamestown Charter Township, MI. The project represents a $34.8 million investment by the family-owned company, and is expected to create 140 new jobs over three years.

Kent Quality Foods president Steve Soet said in a statement that “The MEDC, Lakeshore Advantage and Jamestown Township worked closely with us to identify the site, and they were extremely helpful throughout the entire process.”

Jennifer Owens, president of Lakeshore Advantage, likewise responded that “It was a great pleasure to work along side the company, community and state leaders to secure this growth for our community.”

Kent Quality Foods chose Michigan over a competing site in Ohio for their new manufacturing facility. In order to secure the project, the company has been offered a $750,000 Michigan Business Development Program performance-based state grant. Jamestown Charter Township has furthermore offered a 12-year property tax abatement on the land and building improvements. West Michigan Works! has likewise offered more than $100,000 in workforce recruitment and training support.

All told, nearly 15 local and state organizations joined the Lakeshore Advantage team in winning this expansion for Jamestown Charter Township.

Michigan Project Announcements by Ford, FCA US, Duo Security

Three major project economic development announcements are in the spotlight in Michigan today, including large investments by Ford and FCA US in the state’s automotive sector.


Michigan (photo – andyphelan45/flickr)

First up, Ford announced that it is investing $1.6 billion to upgrade two of its manufacturing facilities in Michigan and Ohio.

The $1.4 billion investment in Livonia Transmission Plant and $200 million investment in Ohio Assembly Plant are part of Ford’s $9 billion commitment made in their recent UAW-Ford collective bargaining agreement to continue investing in Ford’s U.S. plants.

Ford’s latest investment creates or retains 500 hourly jobs in Michigan at Livonia Transmission Plant to build a new 10-speed transmission. The Livonia Transmission Plant employs more than 1,550 people. The investment and 150 hourly jobs at Ohio Assembly Plant, located in Avon Lake, will be used to build Super Duty chassis cab. The Ohio Assembly Plant employs more than 1,650 people.

Ford has committed to 2,800 U.S. jobs in the past five months, and has invested $12 billion in its U.S. plants and created a total of nearly 28,000 U.S. jobs in the past five years.

The second major announcement was by FCA US, which announced today that it will invest $74.7 million in its Trenton Engine Complex in Michigan to retool the north plant to produce the next generation four-cylinder engine, retaining 245 jobs. The engine will provide increased power, while improving fuel economy and reducing CO2 emissions.

Brian Harlow, Vice President – Manufacturing, FCA North America, said in a statement that “This investment in our flexible production line at Trenton North will allow us to quickly ramp up North American production of this new fuel-efficient engine.”

Headquartered in Auburn Hills, MI, FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. Since 2009, FCA US has announced investments of more than $2 billion in Michigan and added nearly 15,600 new jobs, bringing total employment in the state to 35,314 people.

The third jobs announcement for the day in Michigan comes courtesy of Ann Arbor economic development group SPARK, which announced an expansion by Duo Security, Inc. This project is expected to generate nearly $2.5 million in total investment and support the creation of up to 300 direct Michigan jobs over the next three years.

Duo Security first established its Ann Arbor technology facility in 2009. Citing the technology environment, attractive business climate, and highly qualified talent pool, the company chose to invest in its Ann Arbor headquarter operations over competing sites.

The Michigan Strategic Fund has approved a $2.5 million Michigan Business Development Program performance-based grant. The MSF board approves grants and loans administered by the Michigan Economic Development Corporation, which promotes economic development opportunities including retaining and attracting business to the state.

Ann Arbor SPARK provided direct support to Duo in working with the state on its application for incentives. Going forward, SPARK will assist with talent recruitment and attraction.

MEDC Chief Executive Officer Steve Arwood said in a statement that “Duo’s expansion in Michigan rather than Silicon Valley means excellent, well-paying jobs for Michigan residents and underscores the strength of the talent in the state’s technology sector.”

Michigan Economic Development Delegation in Europe for Hannover Messe

Governor Rick Snyder is in Europe, leading an investment mission focused on strengthening trade relationships and attracting job-creating business investments.

Hannover Messe, Germany

Hannover Messe, Germany (photo – EnergieAgentur.NRW)

The Governor will attend the opening event of Hannover Messe today. This is the world’s largest industrial technology trade fair taking place in Hannover, Germany from April 25-29. This year marks the first time ever that the United States is a partner country of the fair.

Michigan Economic Development Corporation Chief Executive Officer Steve Arwood, Auto Sector Senior Vice President Kevin Kerrigan and other MEDC officials also are part of the delegation, as are representatives from local economic development agencies including the Detroit Regional Chamber and Southwest Michigan First of Kalamazoo.

Gov. Snyder said in a statement that “Hannover Messe is an opportunity to highlight Michigan’s leading position in the U.S. in advanced and high volume manufacturing. It’s also an opportunity to promote our Brainpower campaign as one way we are working to ensure Michigan remains the leader for automotive innovation into the future.”

Apart from the state delegation, leaders from several Michigan companies are traveling to Germany to participate in the Michigan Economic Development Corporation’s booth at Hannover Messe, where they will have the opportunity to present their companies to potential buyers and meet with government and business leaders.

This mission is being led by Automation Alley, and the companies participating in the mission are – EPIC Translations (Canton); JAAN Technologies (Sterling Heights); Len & Jerry’s/OmnicO AGV (Clinton Township); Managed Programs (Auburn Hills); Menawat & Co. (Saline); Mobile Computing Solutions (Sterling Heights); Power Panel (Detroit); and The SearchLite (Ann Arbor).

MEDC CEO Steve Arwood said in the release that “Diverse industries and ease of entry into other European Union countries provide an excellent opportunity for Michigan companies to increase their exports.”

As part of this investment mission, the Governor will also travel to Switzerland, Italy and the Netherlands. Gov. Snyder will be in Switzerland on Tuesday, where he will meet with business executives and government officials and visit a leading training facility. He will then travel to Italy to meet with executives from automotive supply chain companies, before wrapping up his trip on Friday in the Netherlands, where he will meet with Dutch government officials and educators.

In the last fiscal year, companies assisted by MEDC’s International Trade Program reported $342.1 million in sales. “These investment missions have opened doors with business leaders in other countries, resulting in good jobs for Michigan residents now and for years to come,” said Gov. Snyder.

TD Ameritrade Expansion in Ann Arbor, Michigan to Create 75 Jobs Related to Stock Trading Software

Financial services firm ThinkTech, Inc., a technology subsidiary of TD Ameritrade Holding Corporation (NASDAQ: AMTD), is expanding its operations in Ann Arbor, MI.

TD Ameritrade Park

TD Ameritrade (photo – Skinzfan23/wikimedia)

Supported by Ann Arbor SPARK and the Michigan Economic Development Corporation, the company will open a new high-tech financial services office in Ann Arbor to develop stock trading software.

This high-profile Ann Arbor economic development project will generate up to $5.75 million in total capital investment and create 75 new jobs.

Marv Adams, executive vice president and chief operating officer, TD Ameritrade Holding Corporation, said in a statement that “The city of Ann Arbor has a flourishing technology and business community that we want to continue benefiting from and contributing to.”

ThinkTech chose Ann Arbor and Michigan for this project over competing sites in New Jersey, Nebraska and Illinois. In order to secure it, MEDC has announced Michigan Strategic Fund approval of a $500,000 Michigan Business Development Program performance-based grant.

MEDC Chief Executive Officer Steve Arwood said in the release that “TD Ameritrade’s investment means Michigan residents will find good job opportunities that could well have gone to other states.”

Ann Arbor SPARK, the public-private economic development partnership working to advance the economy of the Ann Arbor region, has provided assistance to TD Ameritrade since it began to expand in the region, and is currently helping the company recruit new hires.

TD Ameritrade first established its Ann Arbor technology facility in early 2014. It’s worth noting that the company’s new location is in the McKinley Towne Centre in space formerly occupied by Google, which is itself relocating to a new facility in Ann Arbor.

Paul Krutko, president and CEO of Ann Arbor SPARK, highlighted these moves as signs of a healthy economy. “TD Ameritrade’s new technology location in downtown Ann Arbor is exciting: It means more people working, shopping, and dining in Ann Arbor, which adds to the vibrancy of our community and our economy,” said Krutko. “What’s more, with its move to a new location, there’s now great space on the real estate market that’s ideal for another tech company. This cycle of moving in and moving up is a sign of a healthy economy.”

TD Ameritrade Holding Corporation (NASDAQ: AMTD) is the holding company of Omaha, NE-based online broker TD Ameritrade. Last year, the company generated $3.247 billion in revenue offering investing and trading services for more than six million funded client accounts that total more than $650 billion in assets.


Ford Dearborn HQ Transformation to House 30,000 Employees in New LEED Certified Green Campus

Ford Motor Company has announced plans to start a once in a generation 10-year project to collocate some 30,000 employees in more than 60 facilities spread across 70 buildings in the Dearborn area into two main campus locations.

Sustainability Showcase Building at Ford Dearborn campus

Sustainability Showcase Building at Ford Dearborn campus (photo – ford.com)

Construction begins this month on this monumental Dearborn economic development project that is expected to involve an investment of around $1.2 billion.

The existing Ford Research and Engineering Center Campus currently houses 12,000 employees. It is being transformed into a product campus to accommodate 24,000 employees in 4.5 million square feet of upgraded work space.

A second campus location, around the current Ford World Headquarters building, will feature a new Ford Credit facility and provide onsite employee services, improved connectivity and enhanced accessibility to the expansive green space that surrounds the building.

Construction of the new product campus begins this month at the Ford Research and Engineering Center. Major work on the second campus around Ford World Headquarters begins in 2021 and is expected to be complete in 2026.

Ford President and CEO Mark Fields said in a statement that “Bringing our teams together in an open, collaborative environment will make our employees’ lives better, speed decision-making and deliver results for both our core and emerging businesses.”

Governor Rick Snyder likewise issued a statement noting that “Ford Motor Co.’s plans to design a centralized, innovative campus makes it a leader not only in the automotive industry, but throughout our entire nation.”

The company’s investment and modernization plans in Michigan are supported by a new Ford-Michigan economic development agreement that combines two previous MEGA agreements while limiting potential tax credit claims by Ford over the next ten years to 40,200 retained jobs. In order to receive the maximum amount available in terms of tax credits, Ford is required to double its investment plans in the state since 2009 to $6.2 billion.

Ford’s Dearborn transformation also includes significant sustainability features, including geothermal heating and cooling, and water-saving technologies such as rainwater capture and automated metering. Increased building insulation, new glazing systems, state-of-the-art lighting and daylighting, and heat recovery will reduce overall energy use in new buildings by approximately 50 percent annually. Overall potable water use will be significantly reduced through advanced water fixture selection, metering and process enhancements.

Not to mention a new zero-waste, zero-energy, zero-water Sustainability Showcase building in the Product Campus that aims to meet Living Building Challenge standards, the highest level of sustainability possible today.

All new construction is planned to meet the U.S. Green Building Council’s LEED Gold certification standards, including sustainable material selection and material ingredient transparency. Ford anticipates that all renovated facilities on both campuses will achieve at a minimum LEED Silver certification.

SmithGroupJJR designed the new campus layout, applying inspiration from tech companies and university campuses. Donna Inch, chairman and CEO, Ford Motor Land Development Corporation, noted that “We realize people are our greatest asset, and we are putting them at the heart of our workplace design to create healthy, happy work environments.”

Detroit Pistons Owner Tom Gores Launches $25M Flint Economic Development Program With Huntington Bank

Huntington Bank CEO Steve Steinour and Detroit Pistons Owner Tom Gores have announced a comprehensive Flint economic development program to support homeowners, businesses, entrepreneurs and residents of Flint and Genesee County, MI.

FlintNOW Huntington Bank Flint econdev

Photo – huntington.com

To be specific, Huntington Bank, in partnership with Gores’ recently launched FlintNOW Foundation and several other organizations, will provide $25 million as follows:

– $20 million in specialized Small Business Administration (SBA) working capital loans for businesses in Flint. Qualifying small businesses in the community will be able to access SBA loans from $5,000-$5 million, with priority processing and funding, no SBA fees for up to $150,000 in loans funded, and waived bank fees;

– $2 million to fund microlending to small businesses in Flint. This $2 million commitment will be an expansion of Huntington Bank’s Pure Michigan Micro Lending Initiative launched in collaboration with the Michigan Economic Development Corporation (MEDC);

– $2 million in specialized mortgage financing available for home renovations associated with the Flint water crisis, enabling borrowing for renovations and repairs of up to 50 percent of the as-completed value;

– $1 million to provide grants to small businesses in Flint that have been hurt by the water crisis; and

The partnership also includes the launch of a Flint Youth Financial Entrepreneurship Program.

Detroit Pistons owner Tom Gores, who is also CEO of Platinum Equity, was born in Flint. Gores launched FlintNOW back in January as a $10 million campaign to provide short-term relief to victims of the Flint water crisis, to be followed by long-term revitalization of the region’s economy.

In a statement announcing the $25 million partnership with Huntington Bank, Gores said that “I am really proud of Huntington for stepping up in such a substantial way and joining us in this cause. This is exactly the kind of private sector partnership we envisioned when we launched FlintNOW.”

Huntington Bank CEO Steve Steinour added that “As one of the largest banks in Michigan, we are committed to helping Flint emerge from this crisis with a more vibrant and sustainable economy.”

Apart from FlintNOW and Huntington Bank, other organizations that will be involved in facilitating and managing this program include MEDC, the Flint & Genesee Chamber of Commerce, Metro Community Development, Community Foundation of Greater Flint, and the Charles Stewart Mott Foundation.

MEDC CEO Steve Arwood noted in the release that “The plan to develop Flint’s economy is proceeding on several levels, from seeking corporate investment to finding ways to attract those types of small, uniquely local businesses that are often the bedrock of a downtown or a neighborhood.”

A couple of days ago, MEDC had unveiled an innovative web-based platform to allow companies with purchasing needs to connect with Flint and Genesee County suppliers. The Pure Michigan Business Connect website is a free resource that links Michigan companies with procurement or sales opportunities.

Suppliers located in Flint and Genesee County that are not currently enrolled can now create a free profile in this database, giving them instant access to opportunities to expand their supply chain with more than 200 global purchasers as well as world-class purchasers from all over the state of Michigan.

Tim Herman, CEO of the Flint & Genesee Chamber of Commerce, said in a statement that “Access creates opportunities. Through this portal, businesses in Flint and Genesee County have a great way to broaden their customer base, identify new markets for their products and services, and elevate their brands.”

It is estimated that since Pure Michigan Business Connect launched, the program has helped generate more than $2.7 billion in revenue for Michigan companies, which translates into approximately 13,600 jobs for Michigan residents.

Brownfield Redevelopment Plan Secures Spartan Motors Expansion in Charlotte, Michigan

Spartan Motors, Inc. (NASDAQ: SPAR) has announced plans to build a new truck assembly plant in Charlotte, MI to produce the Isuzu F-Series truck.

Spartan Motors

Spartan Motors (photo – spartanmotors.com)

On April 19, the company and leaders of Isuzu North America Corporation will hold a groundbreaking ceremony at Spartan’s headquarters in Charlotte to recognize the expanded contract between the two companies, which began in 2011 with Spartan’s assembly of Isuzu N-Series gas trucks.

To support production of the new Isuzu F-Series truck, Spartan will build and add a dedicated 85,000-square-foot plant to its Charlotte campus. Spartan worked closely on this project with both the city of Charlotte and the Michigan Economic Development Corporation (MEDC).

Daryl Adams, President and CEO, Spartan Motors, said in a statement that “We want to thank our partners at the City of Charlotte and the MEDC for their collaboration and support. We look forward to further expansion of our manufacturing footprint and bringing additional new jobs to Michigan.”

Earlier this month, the Charlotte City Council approved a resolution authorizing the “Spartan Motors Brownfield Redevelopment Plan,” which is actually an adoption of an amendment to Spartan Motors’ existing Brownfield Plan with the City of Charlotte.

The City worked closely with the company on this plan for several months to assist Spartan’s continued redevelopment of the former Care Free Windows site in the Dean Industrial Park area.

Spartan Motors’ plan involves razing the remaining 100,000 square feet of the old Care Free building, and then building an entirely new 80,000-square-foot manufacturing plant on the site. Spartan applied for both Charlotte economic development incentives in the form of tax relief, and state assistance which ensured that Spartan would assemble the Isuzu F-Series truck in Charlotte rather than one of its other out-of-state facilities.

The project will create at least 55 new jobs at Spartan’s Charlotte campus, where the company already employs over 600 people. All told, Spartan employs approximately 1,700 associates at facilities in Michigan, Pennsylvania, South Dakota and Indiana, and generated $550 million in sales last year.

Steve Guillaume, Division President, Specialty Vehicles, Spartan Motors, said that “We’re extremely pleased that Isuzu chose Spartan again, as it launches this new product line.”

The City, in consultation with Spartan, MEDC, the Lansing Economic Area Partnership (LEAP), and environmental consulting firm SME, identified that a new ACT 381 Brownfield TIF plan would be the best way to offer local incentives for this project.

As per the Spartan Brownfield Redevelopment Plan, the City will reimburse up to $972,550 generated through a ‘Brownfield TIF’ (tax increment financing plan) back to Spartan. Future taxes after that would be paid as normal and dispersed to the various taxing jurisdictions to which they are owed.

Spartan is seeking a total of $1.67 million in Charlotte economic development tax incentives for this project, so the City will consider an additional tax abatement later this spring to cover the remainder.

Stoneridge Relocating Corporate Headquarters to Novi, Michigan

Stoneridge, Inc. (NYSE: SRI) has announced plans to relocate its corporate headquarters to Novi, MI and expand its presence in the Detroit metropolitan area.

Novi, MI

Novi, MI (photo – investnovi.org)

Supported by Michigan Business Development Program grant, workforce training funding and support from Oakland County, and additional Novi economic development tax incentives, the company will invest $5.2 million to establish its new corporate headquarters and complete the relocation by the third quarter of this year.

The City of Novi and Oakland County stand to gain as many as 70 jobs that will come with the Stoneridge corporate headquarters currently located in Warren, OH. The company also said the move to the new headquarters would provide flexibility to create up to 70 more jobs to support the company’s future growth needs.

Stoneridge said in a statement that they are committed to providing assistance for employees who relocate as well as for those who do not remain with the Company.

The company also pointed out that Stoneridge remains committed to the state of Ohio and will continue to be incorporated in Ohio. Also, their manufacturing facility in Lexington, OH will continue to operate as a global center of its Control Devices business.

Stoneridge currently has approximately 4,100 employees worldwide, and its global footprint includes 27 locations in 12 countries. There will be no impact on any of the locations except the Warren headquarters, and an existing sales office in Novi that will be consolidated with the new corporate headquarters.

Michigan was chosen over competing sites due to its advantages of being an automotive center with access to customers, engineering capabilities and talent.

Jon DeGaynor, President and Chief Executive Officer of Stoneridge, said in a statement that the new headquarters location will improve their ability to attract new talent from a larger base to enhance technology innovation capabilities and support additional growth. “The state of Michigan has been a valuable and resourceful partner in helping us take this next step in our goal to drive operating excellence and take our business to a higher level of performance,” added DeGaynor.

The Michigan Economic Development Corp. (MEDC) announced that Stoneridge has been awarded a $1.4 million Michigan Business Development Program grant. Oakland County Michigan Works! Will provide talent services and training support valued at $0.7 million. The county is one of over two dozen agencies in Michigan providing free workforce services to businesses and talent at eight locations.

The company has also been offered City of Novi economic development incentives in the form of a property tax abatement.

Founded in Warren, OH in 1965 by D.M. Draime as a one-customer contract manufacturing business serving the automotive market, Stoneridge, Inc. is now a global designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the commercial vehicle, automotive, off-highway and agricultural vehicle markets.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15  Scroll to top