"Kmart, under the new leadership of Chuck Conaway, is making significant strides in restructuring their corporation for maximum profitability," Engler said. "The fact that Troy is part of this new plan shows Kmart's continued commitment to Michigan and proves the quality of the local workforce."

The new center will be located on West Big Beaver Road, near Kmart's world headquarters. It will require a company investment of about $50 million, including building renovations and equipment purchases."Troy is excited about the continual growth of Kmart Corp. on Big Beaver Road. The latest investment will lead the way to a more technologically competitive company," said John Szerlag, Troy city manager. "The nearly $50 million project will upgrade and equip an 80,000-sf facility near its headquarters."

Of the new jobs, 303 spin-off jobs will be created from increased spending by people who receive income from the jobs at the company, according to an economic analysis done by the University of Michigan.A key feature of the MEDC incentives package is a Michigan Economic Growth Authority (MEGA) tax credit, approved Monday by the MEGA board, worth an estimated $15.9 million over 14 years. MEGA, which is administered by the MEDC, is used to promote quality economic growth, job creation and retention in Michigan. In addition, the incentives package includes job training assistance valued at $450,000 for new employees at Kmart's high-tech development center.