US Farathane, LLC expands in Port Huron, Investing over $15 Million and adding 205 Jobs
US Farathane, LLC - is a global automotive supplier that supplies to the automotive industry, including OEMs and Tier 1 suppliers. “The company has been awarded several new contracts to manufacture interior and under-hood components and plans to expand two of its Michigan subsidiaries,” said CFO of US Farathane, Jim Gregory. As a result, US Farathane Port Huron is leasing an additional facility in the city of Port Huron, investing up to $15,065,000 over the next 3 years and creating 205 jobs.
A $160,000 performance-based grant has been approved by Michigan Strategic Fund Board (MSF) a division of the Michigan Economic Development Corporation (MEDC). Michigan was selected over a competing site in Tennessee (where the company has a location). The City of St. Clair has offered a “staff, financial, or economic commitment to the project” in the form of a tax abatement estimated to be worth $143,000. These incentives will help offset overall costs of doing the project in Michigan.
SMR Automotive International
SMR is one of the largest manufacturers of passenger-car rearview mirrors and other car components globally. In May 2013, SMR announced it was planning to invest nearly $40 million to expand its Marysville location and purchase a 100,000-square-foot warehouse in Port Huron. Over three years, this expansion project will bring more than 350 new jobs to the facility, an increase of nearly 50 percent. “The primary reason for investing nearly $40 million into our Marysville facility over competing locations in Alabama or Mexico was our people, who are highly capable and very loyal. They have automotive DNA in their blood,” said SMR Chief Operating Officer Char Zawadzinski. The Economic Development Alliance assisted the company to resolve site issues, create a business case to convince management to invest in Marysville, and negotiate state and local incentives.
PTM Corporation in Ira Township invested $5 million to expand its production capabilities and add 20 jobs
The automotive manufacturing company, founded in 1972, builds vehicle prototypes as well as almost any metal component for clients such as General Motors, Toyota, Ford, Chrysler and Honda. PTM added 30,000 square feet of production to house a new 600-ton stamping press. This recent addition increased the total size of their Fair Haven operations to 120,000 square feet. PTM Corporation ships about two million automotive parts worldwide each week, with about 2,000 prototype jobs a year. The expansion project was supported with a 12-year real property tax abatement.
DANA Holding Corporation
Dana serves commercial vehicle customers worldwide via 40 facilities and five technical centers in 11 countries. Dana Holding Corporation is a world leader in the supply of axles, driveshafts, off-highway transmissions, sealing and thermal-management products, and genuine service parts. Dana has been operating a successful manufacturing facility in St. Clair County for over a decade. In 2014, Dana Corp. announced the closure of a facility in Southeast Michigan and consolidation of jobs and equipment at its St. Clair facility. The project included the addition of new office space on the building and an expanded parking lot to support engineers that were being relocated to the plant.
The Economic Development Alliance assisted the company with zoning variances and other site issues that enabled the expansion and resulted in the company’s decision to do the project in St. Clair County versus a competing location.