"Michigan continues to be recognized as No. 1 in the world for automotive R & D," said Gov. Jennifer Granholm, who announced the new deal. "Hyundai's decision to expand in Michigan underscores our dominance in the industry, proving to the rest of the world that Michigan is still at the top of its game."
Hyundai had been considering locations in Alabama for its Hyundai America Technical Center, but incentives from the state and local governments helped land the deal. The state is giving the project a single business tax credit worth more than $22 million over a 12-year period. The township granted a local tax abatement for the project worth an estimated $6.4 million over 12 years.
Construction is scheduled to begin February 2004 and be done summer of 2005. Within the first year of operation, 85 new jobs will be filled, not including the 41 employees at existing HATCI. Operations at the existing center, in nearby Pittsfield Township, will be moved to the new site once construction is complete.
"We truly appreciate the assistance provided by the Michigan Economic Development Corporation and Superior Township officials in our site selection process," says Dr. Won Suk Cho, president, Hyundai America Technical Center, Inc. "We took great care in our search to find the appropriate community for this world-class automotive research and development center."
The project will create 85 jobs within the first year and a total of 751 new jobs by 2024, including 400 directly by the company, according to the state.
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