A Benzie County company is among nine receiving expansion funding from the Michigan Strategic Fund.
Magna Interior Trim, an automotive interior parts supplier, originally received $882,000 in business development funding back in January of this year, part of a major expansion at both of its locations, in St. Clair County and its local facility in Benzonia Township. At the time, it was supposed to create 274 jobs as a result of the expansion funded with that money.
It did that, and more. Magna is now hiring an additional 169 employees across the two locations, and has added even more growth. That means it is now receiving another $507,000 added into the development grant, allowing even more expansion and hiring.
Magna is owned by Magna International, Inc. The project was among several in Michigan getting new or additional development funding to expand businesses and add jobs, at a total of more than $1 billion worth in new investment and 3,877 new jobs. The others are located in Albion Township, Clinton County, Pontiac, Troy, and Saginaw Township.
Writer: Kim Eggleston
Source: Michigan Economic Development Corporation
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