Tax credit awarded to Genesee County's Magna International

By Angela Brown | ABC 12
December 17, 2009

GRAND BLANC TOWNSHIP—A multi-million dollar investment will lead to hundreds of new jobs in the Mid-Michigan area.

Governor Jennifer Granholm visited Magna International on Thursday to meet with top executives regarding its newly announced $70 million expansion.

Magna International was awarded a $5 million tax credit over seven years by the Michigan Economic Growth Authority Board earlier this week, generating 525 jobs for the Grand Blanc Township facility.

Magna builds electronic components and systems for Ford, Chrysler, General Motors, Honda, and Toyota.

"We hope to help lead the nation to become energy efficient and that is what today's announcement contributes to," Granholm said during her tour with township officials.

New equipment will be added to the exiting facility where components for electric cars will be produced. The automotive supplier will also expand its facility to establish an electric motor manufacturing facility.

Magna hopes production for the new manufacturing plant will begin in early 2011.

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