Tax Credit to Help MI Stamper Expand, Create Jobs
October 1, 2009Thanks to a Michigan Economic Growth Authority tax credit, Lenawee Stamping Corp., Tecumseh, MI, plans to expand its automotive-stamping and assembly plant. The $6.6 million expansion will immediately create 81 new jobs, the company says, with the potential to create a total of 277 jobs. The company, which currently employs 172 workers, will receive a state tax credit of $873,000 over seven years. Meanwhile, the city of Tecumseh also is considering a 12-yr. personal property tax abatement, valued at $397,000.
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