IAV Automotive Engineering Inc., a subsidiary of Germany-based IAV GmbH, recently announced that it will invest $18.2 million to relocate and expand its current engineering operation from Ann Arbor to Northville, Mich. The project will create 198 new jobs, including 107 directly by the company.
The Michigan Economic Growth Authority board today approved a Single Business Tax credit valued at more than $3 million over 12 years. Northville Township is considering a 12-year abatement worth $1.4 million to support the project.
IAV Automotive Engineering Inc. is excited to expand its presence in Michigan and is extremely grateful for all the support we have received from the state, Northville Township and our employees, said Utz-Jens Beister, president of IAV Automotive Engineering Inc. By moving our operations to Northville, we are able to increase our product and service offerings while continuing to provide our customers with the highest level of service. We eagerly anticipate the possibilities this expansion creates for IAV Inc. as we continue to grow in North America.
IAV plans to break ground for the new facility this August and expects to be in operation by the end of May 2008.
IAV GmbH is one of the leading providers of engineering services to the automotive industry, including powertrain, electronics and vehicle development for major manufacturers and component suppliers. The company employs over 2,500 worldwide and 67 at its current facility in Ann Arbor. IAV Automotive Engineering Inc. was formed in 1998 to serve the North American market.
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