The Michigan Strategic Fund board approved nearly $3 million in grants for two projects expected to create 273 jobs in Auburn Hills, Mich., and Port Huron, Mich., by Auburn Hills-based automotive parts manufacturer US Farathane LLC.
US Farathane Port Huron LLC secured new contracts to manufacture interior and under-the-hood components. The board awarded the manufacturer a $2.3 million grant to help with capital investments of up to about $15 million in a new leased Port Huron plant.
US Farathane plans to move its warehousing, assembly and shipping processes to the new facility and create 205 new jobs.
In Auburn Hills, USF Delta Tooling LLC, a subsidiary that supplies plastic injection molds and fixtures to the auto industry, was awarded $600,000 to create 68 jobs as part of a capital investment of up to $14 million.
The company plans to expand by purchasing a Michigan-based tooling company, the memo said. The name of the company to be acquired was not disclosed. Delta Tooling plans to maintain the jobs and transfer some workers to other facilities that it obtains in the acquisition.
US Farathane is owned by Los Angeles-based private equity company Gores Group LLC.