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Auto supplier creating 48 jobs
A manufacturer of mirrors for the auto industry is investing $45 million at one of its operations in the region and creating 48 jobs.
Magna Mirrors of America is experiencing increased demand and needs to construct an additional 175,000-square-foot manufacturing and assembly facility at its Newaygo location, at 700 S. Park St., according to the Michigan Economic Development Corporation, or MEDC, yesterday.
MEDC said Michigan was chosen for the project "over competing sites in other states."
The Grand Rapids-based economic development nonprofit The Right Place helped connect the company to resources to ensure its expansion in Michigan.
MEDC awarded a $448,000 Michigan Business Development Program performance-based grant to the company for the project.
The City of Newaygo is offering the company a 50-percent tax abatement for the project.
With pressure from its customer to build out of state, the incentives will help offset a gap of nearly $5 million to do the project in Michigan versus competing locations.
A unit of Magna International, Magna Mirrors of America produces interior and exterior automotive rear view mirrors with features such as built-in electronic displays and auto-dimming glass, as well as electronic vision systems and actuators.