The Renaissance Zone expansion for American Axle is awaiting administrative board approval.
The project would involve the construction of a 176,000-sf, seven-story office complex on a 19-acre parcel. Located on Holbrook Avenue near I-75, the site is close to the company's current headquarters and its Detroit Gear and Axle manufacturing plant.
The brownfield credit was approved under a recent amendment to the Brownfield Redevelopment Financing Act, which increases the maximum Single Business Tax credit and allows it to be given to functionally obsolete, blighted or contaminated property in 88 core Michigan communities, including Detroit.
American Axle, a tier-one supplier of driveline systems, chassis systems and forged products for the automotive industry, has 7,000 employees in the Detroit metropolitan area and Three Rivers. The firm, which has annual sales of approximately $3 billion, has 7 million sf of manufacturing space in the US, Brazil, Mexico and the United Kingdom.
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