Subsidy Tracker Individual Entry

Company: 
Continental Automotive Systems
Parent Company: 
Continental AG
Subsidy Source: 
state
Location: 
Michigan
City: 
Auburn Hills
Address: 
2400 Executive Drive Auburn Hills
Zip: 
48326
Project Description: 

Continental Automotive Systems is a part of Continental AG???s automotive group, one of the world???s leading automotive suppliers. Based in the City of Auburn Hills, Continental Automotive Systems is the powertrain division of the Continental Group and focuses on developing solutions for reducing emissions, optimizing fuel consumption and delivering outstanding handling characteristics. The company plans to add capacity at a facility in Auburn Hills for automotive research and development, investing $1.5 million and creating 250 new jobs. As a result of the expansion, Continental Automotive Systems has been awarded a $1 million Michigan Business Development Program incentive. The City of Auburn Hills has offered an eight year tax abatement valued at approximately $391,500.

Year: 
2013
Major Industry of Parent: 
automotive parts
Specific Industry of Parent: 
automotive parts-tires
Subsidy Value: 
$10,355,000
Program Name: 
MEGA (Michigan Economic Growth Authority) Tax Credits
Awarding Agency: 
Michigan Economic Development Corporation
Type of Subsidy: 
tax credit/rebate
Number of Jobs or Training Slots: 
300
Notes: 

Year is fiscal year. Jobs is sum of new and retained positions.

Source Notes: 
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