525 new jobs, $70 million investment

By Dan Armstrong | NBC 25
December 17, 2009

Celebration and jubilation are coming out of MidMichigan Thursday.

525 new jobs are announced, and a new electric motor manufacturing facility will be built here.

Magna Electronics is investing $70-million for expansion of its current facility in Grand Blanc Township and also a brand new facility.

It's a mega move from the MEGA board.

The Michigan Economic Growth Authority, known as MEGA, approved Magna Electronics for $5-million in tax credits over seven years.

In return, the company is getting bigger, investing more, and hiring more people.

Carlos Mazzorin, president of Magna Electronics, told a group of government leaders and workers of the company, "It's the faith in the future that you've had. It makes us have faith in the future for ourselves."

The move shows the continual shift from the combustible engine to greener technology.

Governor Jennifer Granholm says, "It's a model of transformation for the auto worker, because it will require a new set of skills, different training, but we know we have got workers that are second to none."

Magna builds electronic components and systems.

It's customers include Ford, Chrysler, General Motors, Honda, and Toyota.

The electric battery and hybrid technology opens the door for new innovation and new a industry.

Tim Herman, member of the MEGA board, says "We are building a brighter economic future for this community and for the State of Michigan."

Granholm says, "We intend to lead the nation in being independent of foreign oil."

That's the goal for the state that's received more federal government battery grants than any other state.

Production for the new manufacturing plant is expected to begin in early 2011.

www.connectmidmichigan.com