TransForm Automotive is expanding in Shelby Township with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. The expansion is expected to generate $42 million in new private investment and add 77 new jobs.
“TransForm is an important player in the automotive supply chain, and this expansion will strengthen their Michigan presence and provide additional good jobs for our talented workforce,” said MEDC President and CEO Michael A. Finney. “TransForm’s decision to expand in Michigan underscores an economic climate that is more business-friendly than ever and a manufacturing talent pool that can compete with any place in the world.”
TransForm Automotive, LLC was originally established in 1997. The company is organized as a division of AMSTED Industries and is headquartered in Chicago with two locations in the City of Sterling Heights. The company manufactures precision transmission components using advanced proprietary stamping, metal forming, flowforming, machining, laser welding and assembly processes. The company has received new business from several OEMs to manufacture new transmission components and assemblies with plans to lease a new manufacturing facility in Shelby Township. The project investment is nearly $42 million and will create 77 new jobs, resulting in a $550,000 Michigan Business Development Program performance-based grant. Michigan was chosen over a competing site in Canada. Shelby Township has offered support to the project in the form of a 12-year property tax abatement valued at $1 million.
To learn more about TransForm Automotive, please visit www.transformauto.com. Individuals interested in career opportunities with TransForm Automotive should submit a resume to applications@transformauto.com or fax a resume to 586-826-3656.
The Michigan Business Development Program provides grants, loans and other economic assistance to qualified businesses that make investments or create jobs in Michigan, with preference given to businesses that need additional assistance for deal-closing and for second stage gap financing.
The MSF considers a number of factors in making these awards, including: out-of-state competition, private investment in the project, business diversification opportunities, near-term job creation, wage and benefit levels of the new jobs, and net-positive return to the state. Business retention and retail projects are not eligible for consideration of these incentives.
Source: MEDC
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