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MegadealsSubsidy Tracker Individual Entry
Company: Magna Exteriors and Interiors USA, Inc.
Parent Company:
Magna International
Subsidy Source: state
Location: Michigan
City: China
Address: 4662 Puttygut China Township
Zip: 48054
Project Description: Michigan Business Development Program - Magna Exteriors and Interiors USA, Inc., DBA Magna Interior Trim Components, is a subsidiary of Magna International, Inc. In 2010 Magna Interior Trim acquired Continental Plastics Co., an automotive interior components parts supplier with facilities in China Township (St. Clair County) and Benzonia Township (Benzie County). In January 2014, Magna Interior Trim received an $822,000 Michigan Business Development Program performance-based grant for expansions at both locations which were expected to generate $3.6 million and create 274 jobs. Since then, the company has created the 274 positions and has experienced additional growth which will require the hiring an additional 169 employees. As a result of the additional jobs, the company???s MBDP grant has been increased by $507,000.
Year: 2014
Major Industry of Parent: automotive parts
Specific Industry of Parent: automotive parts
Subsidy Value: $107,563
Program Name: Industrial Property Tax Abatement
Awarding Agency: Michigan Economic Development Corporation
Type of Subsidy: property tax abatement
Number of Jobs or Training Slots: 443
Source of Data:
(click here)
Notes: Year is fiscal year. Jobs is sum of new and retained positions.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.