March 12, 2007
March 12, 2007
High-tech firm expanding and growing new jobs in Michigan
LANSING - Governor Jennifer M. Granholm today kicked off her investment mission to Germany, meeting with executives from FEV Motorentechnik & Co. to thank them for their continued commitment to Michigan and to encourage future investment in the state. Granholm and Michigan Economic Development President (MEDC) and CEO James C. Epolito are in Germany this week to encourage German businesses seeking to expand their presence in the U.S. to do so in Michigan.
"FEV's decision to invest in Michigan is creating jobs for our workers and sending a signal that Michigan is the right place in America for high-tech companies to grow and create new jobs," Granholm said. "Their commitment to Michigan is a testament to our first-rate workforce and pro-business climate."
Last month, Granholm and company leaders announced a company subsidiary, FEV Engine Technology, would invest $4.3 million to expand its North American Technical Center in Auburn Hills and create 180 new high-tech jobs with assistance offered by the MEDC. During her meeting today, the governor encouraged the company to continue to invest and grow in Michigan.
FEV is a growing high-tech company active in the design and development of hybrid, fuel cell, and alternative fuel technology. The company designs and develops internal combustion engines and supplies advanced test and instrumentation systems. The company also offers a complete range of engineering services, including the design, prototyping and development of advanced gasoline, diesel and alternative propulsion systems. FEV currently employs 227 at its facility in Auburn Hills.
"Time and time again, Michigan's strong business climate and quality workforce have proven to be tremendous assets to companies competing in the global economy," Epolito said. "Going forward, I'm confident that our efforts to diversify and strengthen the economy will continue to win new corporate investment and jobs."
Other meetings this week scheduled for Granholm and Epolito with high-level executives from German companies looking to invest and grow in the U.S. include: DaimlerChrysler, FACTON Inc., GETRAG, Kostal, Magna Steyr, and AVL.
More than 170,000 Michiganians are employed by more than 300 German-owned companies that operate in the state. German-owned companies are defined as those with at least 50 percent German ownership. These companies, representing a wide range of industry sectors, are heavily concentrated in advanced automotive manufacturing and research and development, sectors well-known for producing high-wage jobs.
During her tenure as governor, Granholm has welcomed a number of significant German company investments to the state, including major new developments by AVL, Behr America, Bosch, DaimlerChrysler, Eberspacher, FEV, Karmann, Mahle and Söhnergroup GRW Technologies. Many of the new facilities and expansions have been won by Michigan in head-to-head competition with other states and countries with MEDC assistance.
Granholm's previous investment missions to Germany and Japan have resulted in more than $282 million in new investments and more than 1,600 new jobs.
Following the governor's two missions to Japan in 2005 and 2006, a total of 22 companies stated their intentions to expand in Michigan for a total investment of $200 million and over 1,000 new jobs. Her investment mission to Germany in 2004 resulted in several companies investing approximately $82 million and creating more than 670 new Michigan jobs over the next several years.
