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$44-Mil Project May Get $14 Mil Package

DETROIT-If American Axle and Manufacturing builds in a Renaissance Zone, it could save $11 million in property taxes, $1.7 million in Single Business Taxes, $1.2 million in education tax abatements and a $4.4-million brownfield credit.

By Robert Carr | Updated on August 17, 2001

DETROIT-American Axle and Manufacturing has been awarded a Brownfield Single Business Tax Credit worth 10% of the company’s eligible investment in a proposed new world headquarters, or up to $4.4 million, says Gov. John Engler. In addition, the proposed new headquarters could be erected in a Renaissance Zone, saving the company an estimated $11.2 million in local property taxes, an estimated $1.7 million in Single Business Taxes and approximately $1.2 million in state education tax abatements.

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.

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