FROM: Peter Chapman, Executive Vice President, Business Development
Detroit’s international vision and investment opportunities were the topic of conversation when members of the DEGC Business Development team met with the Brookings China Council during their visit to the Motor City recently.
The Brookings China Council, as part of the Brookings Institution, conducts independent and original policy research on a wide range of contemporary policy issues regarding bilateral relations between China and the United States. Members of the Brookings China Council include distinguished international scholars and leading multinational technology executives.
We spoke to the Council about recent investments by Flex-N-Gate, Sakthi, and Microsoft, as well as the overall international investment context. We also discussed the impact of broad international issues on local trade and investment opportunities. The meeting was part of Business Development’s ongoing international engagement efforts to share and promote Detroit’s story of resurgence to a broader community of stakeholders.
From the desk of: Glen W. Long, Jr., Chief Financial Officer, Interim President & CEO
We celebrated a very important investment in the City of Detroit this week when top automotive supplier Flex-N-Gate hosted a groundbreaking ceremony at 7000 Georgia Street in the I-94 Industrial Center, future site of its new $95-million manufacturing facility. It will be the largest investment by an auto supplier in the City of Detroit in more than 20 years.
This is a huge win for two reasons: it proves the manufacturing industry is strong in Detroit, and it will create 400 to up to 700 new jobs in an area where new jobs are sorely needed. Flex-N-Gate has committed to hiring Detroiters and Detroit-based contractors, as well as developing a comprehensive hiring plan in conjunction with the City of Detroit Human Rights Department and Detroit Employment Solutions Corp. to help ensure permanent jobs for Detroiters. Its new facility is expected to open next year.
A key reason Flex-N-Gate was able to locate in Detroit was the tax incentives administered by DEGC through the Detroit Next Michigan Development Corporation, one of the public authorities DEGC manages.
The 189-acre I-94 Industrial Park has been under control of the Economic Development Corporation (EDC) since 2000, with EDC overseeing property acquisition, clean up and development of the land. LINC Logistics was the Park’s first major new tenant when it opened a new $30-million, 500,000 sq. ft. facility last year, immediately adjacent to the Flex-N-Gate site.
This latest investment in the I-94 Industrial Park is the culmination of a collaborative effort among the City of Detroit, DEGC and the Michigan Economic Development Corporation (MEDC), which administers incentives and programs on behalf of the Michigan Strategic Fund.