Summit Polymers Inc. is receiving an $800,000 performance based grant to help with a $7.3 million expansion of three of its Michigan facilities, according to a news release from the Michigan Economic Development Corp.
The Portage, Mich.-based company is a Tier 1 supplier of automotive interior functional and decorative components and systems. It was founded in 1972 by James Haas and now has nine facilities worldwide with over 2,000 employees.
MEDC said Summit Polymers is planning to expand operations in the cities of Portage and Sturgis, and the village of Vicksburg. It also noted that Summit will create 198 jobs, and the communities are offering support in the form of property tax abatements.
The company chose Michigan over competing sites in Kentucky, Oho and Missouri, according to the statement. Summit did not provide any further details.
The MEDC, based in Lansing, provides grants, loans other economic assistance to qualified businesses that make investments or create jobs in Michigan.
Summit said on its website that it had opened its second facility in Nanjing, China in May near its existing site in China.