LANSING – Through the use of the Private Activity Bond Program, two auto-suppliers in Michigan plan on expanding their infrastructure, Gov. Jennifer Granholm and Michigan Economic Development Corporation James Epolito announced Monday.
Alliance Interiors LLC plans to obtain and install machinery in a vacant manufacturing plant located in Delta Township with the $2.5 million in bond proceeds it received. The Lansing-based company manufacturers interior soft trim products for the auto industry.
And Erwin Quarder Inc. will use its $2.6 million in bond proceeds issued by the Michigan Strategic Fund to purchase and install machinery, equipment, furnishings and fixtures for its leased manufacturing facility in Cascade Township. The company manufacturers plastic components for the auto industry and others.
“By working together, the Michigan Economic Development Corporation and these companies are making a commitment to their employees and the communities in which they have operations,” Epolito said in a press release. “The new jobs and revenue created by the projects will make for a stronger local economy.”
Michael Shore, MEDC spokesperson, said that unlike other incentive programs, companies do not have to state how many jobs will be created with the bond proceeds, so there is no specific calculation related to the announcement.
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