$39M in investments, 355 jobs coming to Michigan with expansion tax incentives

Posted on October 22, 2012

The Michigan Economic Development Corp. said five companies, including two in Metro Detroit, were awarded incentives Thursday to expand in the state — representing $39 million in investments — and hire some 355 workers.

“These projects demonstrate that we are at the top of the list for companies looking to grow their operations and create jobs,” said Michael A. Finney, MEDC president and CEO. “This new investment in our state will strengthen our communities and fuel new opportunities for our talented workforce.”

In Metro Detroit:

P&F Systems, a wholly owned division of the Cosma group of Magna International Inc., a global automotive supplier, was awarded a $690,000 incentive for a new operation in Auburn Hills. The company will invest up to $28.9 million in the facility and hire as many as 230 workers by the end of 2015.

Sherbrooke Land Co. was approved to receive a $599,412 grant to renovate the historic Sherbrooke Manor near Wayne State University in Detroit. The vacant building will be renovated to create 14 apartments.

Other projects were in Flint, Kalamazoo and Lansing.

The Detroit News.