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Industrial Expansion Planned In Lease Deal

MARYSVILLE, MI-Schefenacker Visions Systems USA drops plans to build a new plant in Mexico when it gets a 10-year lease on a 65,000-sf plant at cost, with the possibility of getting the $10-million building for $1 later on.

By Dan Heaton | Updated on December 13, 2004

MARYSVILLE, MI-Schefenacker Visions Systems USA, Inc. plans a $10-million expansion of its manufacturing center here. The city, through its Local Development Finance Authority, will purchase a 5.5-acre vacant lot south of Schefenacker’s existing facilities and assign the land to the Economic Development Alliance of St. Clair County, which will construct a 65,000-sf facility for lease over the next 10 years to Schefenacker.

The building will be leased by EDA to the company at cost and if at the end of 10 years Schefenacker maintains employment of at least 500 people, they will receive the building for $1 for its continued use. Citizens First Bank will provide EDA with financing to complete the building structure.

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