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Visteon Plans $110M in Two Expansions

STERLING HEIGHTS, MI-The auto components manufacturer is asking the city council for property tax breaks to help offset its investment in its Mount Road and 18½ Mile Road plants.

By Dan Heaton | Updated on October 14, 2004

STERLING HEIGHTS, MI-City officials are expected to decide Oct. 19 whether to give auto components manufacturer Visteon Corp. tax breaks expected to spur $110 million in new investments at two SterlingHeights facilities. The tax breaks are for Visteon’s proposed new $102-million investment at its Mount Road plant and an $8-million investment at its plant on 18½ Mile Road.

Two other companies, Allan Tool and Machine Co., and US Farathane Corp., have also asked Sterling Heights for similar tax breaks on investments of $700,000 and $697,000, respectively. They, too, will be considered Oct. 19.

Michigan law allows governments to cut taxes for local communities by 50% on new industrial investments for up to 12 years. Sterling Heights Assessor Matthew Schmidt says the city’s policy is to grant the full 12 years on any investment of $75 million or more. Schmidt will recommend six-year tax breaks for Visteon’s proposed new investment of about $8 million at its 18-1/2 Mile plant and the US Farathane proposal.

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