Lear To Build $112 Million Expansion In SE Michigan, Traverse City EV Components

GRAND RAPIDS – Tier 1 automotive supplier Lear Corp. plans a $112.5 million expansion at three facilities in southeastern Michigan and Traverse City to support the manufacturer’s ongoing growth in the electric vehicle market.

The Southfield-based company, which specializes in seating and electrical systems, plans a new 120,000-square-foot facility in Independence Township in Oakland County. The company also expects to ramp up operations at existing facilities Traverse City and Macomb County to support the expansion, which could create up to 500 new jobs.

The Michigan Strategic Fund board today supported the project with a $4.5 million Michigan Business Development Program performance-based grant as well as a 15-year, 100-percent State Essential Services Assessment (SESA) exemption valued at roughly $1.9 million. The SESA is required for manufacturers that do not pay personal property tax on eligible equipment.