Magna Interior Trim will invest US$3.6 million and create 274 jobs at its plants in China and Benzonia townships in Michigan, according to the Michigan Economic Development Corporation (MEDC).
The expansions come after the automotive supplier – a subsidiary of Aurora, Ont.-based Magna International Inc. – acquired two new contracts to supply door trim molded parts and sub components, the MEDC said in a statement. The expansions are expected to generate nearly US$27.6 million in new capital investment and bring 494 new jobs in Michigan, the organization added.
Magna also has received an US$822,000 Michigan Business Development Program performance-based grant, MEDC said.
“Michigan is the No. 1 state for creating new manufacturing jobs, and these new expansions demonstrate that our economic climate is more business-friendly than ever and our manufacturing talent pool can compete with any place in the world,” MEDC president and CEO Michael A. Finney said in the statement. “These projects all mean more jobs and greater economic opportunities for people across Michigan.”