Michigan Strategic Fund OKs more than $1 million in grants to 3 companies
Yanfeng Automotive Interiors, a joint venture interior supplier will invest $8.45 million to develop a new headquarters in Novi while Kerkstra Precast Inc. will invest more than $16 million in its Trenton facility, the state announced Wednesday.
The two developments plus another in Litchfield in southwest Michigan will create a total of 148 jobs, according to a news release from the Michigan Economic Development Corp.
More than $1.1 million in Michigan Business Development Program performance-based grants were awarded by the Michigan Strategic Fund board, according to the release:
- Yanfeng Automotive Interiors received $600,000 to help develop a “cutting-edge” new facility and create 60 jobs. Yanfeng Automotive Trim Systems Co. and Adient, formerly Johnson Controls Inc.,entered the joint venture in 2015.
- Kerkstra, a structural and architectural precast company, received $300,000 to expand in Trenton. The company, which has facilities in numerous Midwest states, chose Trenton over a facility in Ohio. The company said it will create 50 jobs.
- Speedrack Products Group Ltd., which produces storage products, was awarded $228,000 to help purchase a facility in Litchfield in Hillsdale County. The company plans to invest $5 million to upgrade its infrastructure, purchase new equipment and create 38 jobs in the expansion of its manufacturing operations. The city of Litchfield said it will provide property tax abatement. The company selected the town over potential sites in Indiana and Ohio.