MEDC says it is aware of $720 million in planned capital expenditures by the Big Three and foreign automakers or their direct suppliers in the state in 2005.
One of the biggest projects could be plans by Toyota to build a research and development center near Ann Arbor, though Toyota has not yet made details about that project public. Ongoing work by General Motors on the exterior of its headquarters at the Reniassance Center in Downtown Detroit is also helping to boost the spending total.
Ohio and Illinois ranks second and third in planned 2005 capital expenditures, with spending to expected to exceed $219 million and $147 million, respectively. In all, the five states in the Great Lakes region will see more than $1.1 billion in overall automotive capital expenses in 2005.
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