WATERFORD, MI – Magna International Inc. announced plans to construct a $56 million manufacturing facility in Lyon Township, choosing the site over competing sites in Ohio, South Carolina and Ontario.
Marada Industries, a Magna International subsidiary which operates as Cosma Body Assembly Michigan, will build the 150,000 square foot facility on a 32-acre parcel of vacant land near Milford Road and Grand River Avenue in Lyon Township. The facility will supply underbody structural components to the auto industry.
The investment will create 250 jobs, which results in a $1.6 million Michigan Business Development Program performance-based grant, the Michigan Economic Development Corp. said. The township offered a property tax abatement for the project.
“Oakland County’s talented workforce, quality of life and attractive proximity to the auto industry were key factors in attracting Magna to the Lyon Township site,” Oakland County Executive L. Brooks Patterson said. “I applaud all of the parties involved for closing the deal. This is an important project for the township, the county and the state.”
Magna International is a Canada-based tier one auto supplier with its North American headquarters in Troy, operates 27 manufacturing facilities and 11 engineering, product development and sales centers in Michigan, employing more than 10,000 people. It manufactures automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to the car and light truck original equipment manufacturers.