By: Natalie Broda
CRAIN'S DETROIT BUSINESS
June 10, 2014
Toyoda Gosei North America Corp., a subsidiary of Japan's Toyoda Gosei Co., Ltd., has been awarded a $250,000 Michigan Business Development Program performance-based grant for expansion of its North American headquarters at in Troy, Mich.
The company plans to invest up to $7.9 million at the site, which focuses primarily on sales, engineering and administration for its subsidiaries engaged in research and design, and manufacturing operations throughout North America. It produces plastic interior and exterior parts, fuel systems and seals for the auto industry.
The company was planning to relocate its North American operations to Louisville, Ky. The state of Kentucky offered incentives and renovation dollars for the company to relocate, according to a briefing memo that accompanied the grant request. The company also indicated that Kentucky offered a lower cost of living and lower building costs compared to the project in Troy. The grant was approved with the consideration that the company will retain its North American headquarters in Michigan.
The expansion will create 51 jobs. The city of Troy is supporting the project with a nine-year property tax abatement with an estimated value of $89,000.
Toyoda Gosei North America was established in Troy in 1999. It was ranked no. 20 on Crain’s 2013 list of largest Southeast Michigan divisions, affiliates and subsidiaries.