CW Bearings to invest $26M in Northville Twp.
Resource from: CBCC Likes:246
Sep 01,2015
A Chinese manufacturing company that makes bearings for cars will invest nearly $26 million in a new U.S. headquarters and technical center in Northville Township, according to Gov. Rick Snyder’s office.
The investment by CW Bearings USA Inc. will create 125 jobs and follows the governor’s eight-day trade mission to China. Snyder met with CW executives in Shanghai on Saturday.
“CW Bearing’s decision to locate its U.S. headquarters in southeast Michigan signals to corporate leaders across the globe that the Great Lakes State offers great opportunities for their business expansion,” Snyder said in a statement. “This comes as we return from a busy, productive week developing and strengthening relationships that will lead to new investments, new export opportunities, and more jobs for Michiganders and our communities.”
The company plans to build a facility in Northville Township to house its U.S. headquarters, an engineering and technical center, and advanced manufacturing operations. Founded in 1984, CW has locations in California, North Carolina, Missouri and Michigan.
The new project will generate a total capital investment of $25.9 million and create 125 jobs, resulting in a $550,000 Michigan Business Development Program performance-based grant. Northville Township has offered support to the project in the form of property tax abatement. It’s unclear when work on the project will begin.
“This facility, located in Northville Township near the heart of the North American auto industry, will allow us to better support our ‘Customer First’ philosophy by increasing both our global manufacturing and technical capabilities, allowing us to bring more value and versatility to our growing customers,” Jay Click, CW Bearing USA director of sales, said in a statement. “We look forward to continued support from the state and local government as we continue to expand our operations in the state of Michigan.”
(CBCC)
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