DETROIT (Dec. 23, 2010)—Polyurethane part maker Otto Bock Polyurethane Technologies Inc. is investing $13.3 million in a facility in Rochester Hills, Mich., to make urethane parts.
The project is expected to create up to 233 total jobs, including 98 directly at the company.
This is one of 11 brownfield redevelopment projects in Lansing, Detroit, Grand Rapids, Flint and Hamtramck, supported by the Michigan Economic Development Corp. The aim is to help generate more than $406 million in investment and create and retain 1,401 jobs.
MEDC is also helping six companies grow, with $69.6 million in new private investment that is projected to create 1,596 jobs in the state, governor Jennifer Granholm announced Dec. 14.
Based on the MEDC's recommendation, the Michigan Economic Growth Authority board has approved incentives for the 11 projects for Michigan over competing states and countries.
For Otto Bock, MEGA has approved a state tax credit valued at $671,656 over five years to convince the company to expand in Michigan over a competing site in Pennsylvania. The city of Rochester Hills also is considering a tax abatement in support of the project.